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.

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.

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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.