Tata Motors, on the back of major cost cutting measures at its Jaguar-Land Rover luxury car unit, posted a consolidated profit for the September quarter. The group posted a net profit of Rs 21.78 crore for the quarter ended September 30, 2009 compared to a net loss of Rs 941.75 crore for the quarter ended September 30, 2008.
In October, Tata Motors reported a standalone net profit for its Indian operations at Rs 729 crore. The consolidated net sales fell 8.5 per cent to Rs 20,889 crore in the quarter ended on September 30, 2009 from Rs 22,825 crore for the same period last year.
“Overall we see signs of stability in our Indian business. The impact of restructuring is still chipping in and further improvement is expected,” said Ravi Kant, vice chairman, Tata Motors.
On June 02, 2008, the company acquired Jaguar Land Rover businesses from Ford Motor.
The financial results for the half-year ended on September 30, 2008 include the results of the operation of Jaguar Land Rover businesses for the period on June 02, 2008 to September 30, 2008. The results for the half-year ended on September 30, 2009, are not comparable to this extent with the previous period.