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Tata Motors Q1 net crawls up

In the face of slow growth in vehicle sales, high interest rate and raw material cost pressures, Tata Motors reported a flat growth in net profit for the quarter ending June 2011.

india Updated: Aug 11, 2011 23:27 IST
HT Correspondent

In the face of slow growth in vehicle sales, high interest rate and raw material cost pressures, Tata Motors reported a flat growth in net profit for the quarter ending June 2011.

Ratan Tata-led group company reported a consolidated net profit of Rs 2,000 crore for the first quarter of the current fiscal against Rs 1,989 crore for the corresponding period previous year, showing a marginal 0.6% year-on-year growth. The income rose 24% at Rs 33,392 crore against Rs 26,876 crore for the year ago period.

Its UK-based premium car subsidiary Jaguar and Land Rover - reported a 3% decline in net profit at £219 million (Rs 1,603 crore) despite a 20% growth in revenues at £2,712 million (Rs 19,849 crore). The domestic business of Tata Motors reported a marginal 1% growth in net profit at Rs 401 crore and 14% growth in revenues at Rs 11,297 crore.