Tata Motors on Tuesday reported a massive 102-fold jump in its consolidated net profit for the quarter ended June-September at R2,223 crore on account of robust demand across categories.
The company had posted a net profit of R21.8 crore in the corresponding period last year, Tata Motors said in a statement.
The consolidated total income from operations during the second quarter also increased by 36.48% to R28,782 crore from R21,088.5 crore in the year-ago period, it added.
“Favorable macroeconomic conditions, good monsoons and good finance availability led to robust domestic demand during the quarter, resulting in volume growth across all segments,” the company said in a statement.
The shares of Tata Motors rose marginally and closed the day at R1,270.55 a piece on the Bombay Stock Exchange.