Tata Motors on Tuesday reported a 139% year-on-year rise in net profit at Rs. 6,234 crore in the January-March quarter against Rs. 2,638 crore, as emerging market demand for its Jaguar Land Rover (JLR) vehicles offset lacklustre performance at its core domestic business.
Revenue during the quarter grew 44% at Rs. 50,908 crore.
JLR’s net profit for the quarter grew 165% to Rs. 6,074 crore and revenue rose 51% to Rs. 36,177 crore.
Meanwhile the Indian business of Tata Motors saw a marginal drop in profit at Rs. 565 crore during the fourth quarter. Revenue grew 14% to Rs. 14,326 crore.
The company’s consolidated profit for the fiscal year grew 46% to Rs. 13,517 crore while revenue grew 36% to Rs. 165,655 crore.
In a separate development, Tata Motors announced that Tata Sons deputy chairman Cyrus Mistry, who will take over the reins from chairman Ratan Tata later this year, has been inducted to the board of Tata Motors as a director.