Tata Motors Q4 profit up 26%, beats forecast

Reuters
Mumbai
First Published: 15:26 IST(18/5/2007)
Last Updated: 15:32 IST(18/5/2007)
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India's top bus and truck maker, Tata Motors Ltd, reported quarterly net profit rose 26 per cent, helped by sales of higher-margin trucks.

The New York-listed company which has about 60 percent of India's $5 billion truck and bus market, said net profit rose to 5.77 billion rupees ($141 million) in its fiscal fourth-quarter to March from 4.58 billion reported a year ago.

The result beat a Reuters poll forecast for 5.51 billion rupees.

Net sales grew 20.3 per cent to 82.67 billion rupees, up from 68.70 billion rupees a year ago.

But by 0926 GMT, shares in the company were down nearly 1 percent at 744 rupees in a volatile Mumbai market.

Tata Motors, also India's third-biggest car maker after Maruti Udyog Ltd and South Korea's Hyundai Motor Co, has a joint venture with Italy's Fiat to make cars and engines in India and a separate venture to make pick-up trucks in Argentina.

The company makes the popular Indica hatchback and Indigo sedan. It is scheduled to roll out a low-cost small car in 2008.

Top car maker Maruti posted a better-than-expected 24 per cent rise in quarterly profit last month.


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