Tata group revenue falls 4.6% to $103 bn

The Tata group’s revenue fell to $103 billion from about $108 billion in the financial year ending March due to global political uncertainty, reduction in commodity prices and volatility in currencies, said Tata Sons Chairman Cyrus Mistry in the group’s annual leadership conference.The group closed the financial year with a market capitalisation of its 29 listed companies at Rs 771,191 crore ($116 billion). This reflected a decline in market capitalisation from the previous year of 7.4 per cent, as compared to a decline in the BSE Sensex of 9.4 per cent.