With UK-based luxury car subsidiary Jaguar Land Rover contributing 75% of revenue and 91% of profits, Tata Motors reported steady growth in the April-June quarter, though its India unit saw profits halve.
The auto major posted 12% growth in net profit at Rs. 2,245 crore in the first quarter against Rs. 2,000 crore a year ago. Revenue was up 30% at Rs. 43,324 crore.
Riding on its increasing popularity in the Chinese market and the huge success of the compact Range Rover Evoque, JLR reported 8% growth in net profit at R2039.4 crore and 35% growth in revenue at Rs. 31,428.7 crore.
JLR sales grew 34% to 83,452 units. The quarter saw China, surpassing US and UK markets to become the biggest market for JLR with 22% of sales.
Meanwhile, in India, Tata Motors had a disappointing quarter as heavy truck sales dropped 32% and car sales slipped 10%, with its net profit shrinking to Rs. 205 crore from Rs. 401 crore and topline down 9% to Rs. 10,586 crore.
Tata Motor's will launch Safari Storme, Nano CNG and Manza Refresh this year.