Tata Motors Q3 net zooms four-fold
The staggering performance of Jaguar Land Rover helped Tata Motors report an almost four-fold increase in net profit for the third quarter of the fiscal at Rs 2,408.9 crore against R650 crore for the year-ago period.autos Updated: Feb 11, 2011 23:43 IST
The staggering performance of Jaguar Land Rover helped Tata Motors report an almost four-fold increase in net profit for the third quarter of the fiscal at Rs 2,408.9 crore against Rs 650 crore for the year-ago period. The company's consolidated topline grew 22% at Rs 31,685 crore against Rs 25,974 crore in the year-ago period.
The luxury brand Jaguar Land Rover, which sold 63,155 units in the last quarter — a 11% increase in sales — reported a Rs 1,958 crore net profit while the Indian business of Tata Motors posted R410 crore net profit. When JLR's net profit quadrupled, the profit of domestic business improved marginally.Input cost pressures impacted the margins of the domestic business, said C. Ramakrishnan, chief finance officer, Tata Motors. The company sold 1.13 lakh trucks and buses and 64,000 cars during the three-month period ending December 31. Total vehicle sales including exports grew 17% to 1.94 lakh units in the last quarter.
Ramakrishnan said margins will be under pressure in the coming months. On the joint venture with with Fiat, Tata Motors MD Carl Peter Forster said: "We would like to see the sales improving. Any notion that we are not interested in the JV is absolutely wrong. The joint venture supplies engines which are well received in the market".