TBM Staff - Mumbai The Tata Group’s aviation business, which includes Air India, Air India Express, Tata SIA Airlines (Vistara), and AIX Connect (formerly AirAsia India), managed to reduce its losses to INR 6,337 crore in FY24, a significant improvement from INR 15,414 crore in the previous year.
Air India achieved its highest-ever consolidated revenue of INR 51,365 crore, marking a 24% increase. This growth was driven by increased capacity and a higher passenger load factor of 85%. Tata SIA Airlines, operating under the Vistara brand, reported a 29% rise in turnover to INR 15,191 crore and reduced its losses to INR 581 crore from INR 1,394 crore in FY23.
In the digital and electronics sector, Tata Group experienced a 148% growth, with revenue reaching INR 1,612 crore, although net losses widened to INR 2,223 crore. Tata Digital reported having 20.76 million transacting customers, contributing to a total gross merchandise value (GMV) of INR 37,355 crore.
Tata Sons, the parent company, saw a 57% surge in net profit to INR 34,654 crore, with revenue increasing by 25% to INR 43,893 crore. The company also distributed its highest-ever dividend of INR 35,000 per share. Tata Sons’ chairman, N Chandrasekaran, received total compensation of INR 135 crore for FY24, reflecting a 20% increase from the previous year.
