Mumbai: Salt-to-software conglomerate Tatas have become the country's first business house to attain USD 100 billion revenue, even as the group's profit slipped to near USD five billion in the last fiscal year.
The total revenue of the Tata group, which has over 100 companies including 31 listed entities, rose by about 20 percent in the last fiscal 2011-12 to USD 100.09 billion, from USD 83.3 billion in the previous year.
The last fiscal also saw the group's total headcount rise by nearly 32,000 persons to nearly 4.56 lakh.
At the same time, the group's profit after tax slipped by 9.4 percent to USD 5.23 billion during the year, as per the latest financial details available with the group.
In rupee terms, the fall in profit was lower at 4.5 percent, while revenue growth was higher at 25.3 percent.
The group's total revenue rose to Rs 4,75,721 crore, while profit after tax fell to Rs 25,112 crore in 2011-12. The total assets rose by 27.5 percent to Rs 3,73,026 crore.
The group's international revenue at USD 58.5 billion accounted for more than half of the total worldwide turnover and rose by 21 percent from the year-ago levels.
The international operations and overseas acquisitions have played a significant role in the group's revenue growth in recent years. The group turnover had crossed Rs one lakh crore mark in 2006-07, while it stood at little below Rs 50,000 crore level in 2001-02.
Tatas also recorded net forex earnings of USD 1.6 billion, up by over 51 percent from USD 1.05 billion in 2010-11.
The group is present in more than 80 nations and markets across Asia, Africa, America, Europe and Australia.
Tatas have made a number of high-profile takeovers abroad, including high-profile acquisitions like Jaguar and Land Rover in 2008 and Corus Steel in 2007, and made an offer last week to acquire US-listed Orient Express, which runs an iconic chain of hotels and luxury trains.
Among its key businesses, the group is present in information technology, steel, automobile, power, hospitality, telecom, chemicals, consumer goods, retail, engineering and chemicals sectors.
Out of its total headcount of 4,55,947 persons, communications and information systems accounted for about 55 percent, followed by about 18 percent each in materials and engineering sectors.
First Published: Sunday, October 21, 2012, 14:08