Jaguar-Land Rover records £1.1 bn profit in FY'11: Report | autos | Hindustan Times
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Jaguar-Land Rover records £1.1 bn profit in FY'11: Report

autos Updated: May 22, 2011 21:52 IST

PTI
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Tatas-owned Jaguar Land Rover will this week unveil record annual profits exceeding £1 billion, completing the luxury car maker’s remarkable recovery from the depths of recession, media reported on Sunday.

JLR is forecast to declare £1.1 billion profit for the year to March 31, compared with a gain of £32 million last year and a £281 million loss in the first 10 months after Tatas took over, the Sunday Telegraph said.

The record profit comes just two years after the car maker sought government support and warned of a “national emergency” in the industry.

According to the report, the turnaround has been driven by spiralling sales in emerging markets such as India and China where the cars are status symbols for the middle-classes.