Tata Motors net profit jumps over 11-fold to Rs 1,215 cr; JLR revenue rises marginally
Tata Motors' revenue rose 16.1 percent to Rs 74,156 crore in the reporting quarter
Mumbai: Tata Motors Group on Monday reported net profit of Rs 1,215 crore for the December quarter, up over 11-fold from Rs 111.6 crore a year ago.
Group revenue rose 16.1 percent to Rs 74,156 crore in the reporting quarter, the company said in an exchange filing.
On a standalone basis, Tata Motors India returned to the black with a net profit of Rs 183.65 crore on a revenue of Rs 16,102 crore, up 59 percent.
The company had reported loss of Rs 1,052.13 crore in the year-ago period and a net loss of Rs 295.30 crore in September quarter, the company said in an exchange filing.
Its cash-cow the British marquee JLR numbers printed lower with a pretax profit of 192 million pounds, down from 255 million pounds a year ago, which had included an $85 million insurance recovery.
JLR revenue jumped 4.3 percent to 6.3 billion pounds.
"JLT profitability was impacted by the run-out of the 17 model year Range Rover and Range Rover Sport and higher depreciation and amortisation resulting from continued investment to drive profitable growth," the company said.
JLR operating profit margin expansion of 160 basis points at 10.9 percent.
On a standalone basis, Tata Motors' passenger and commercial vehicle business grew strongly. Revenue grew by 57.8 percent year-on-year to Rs 16,101.6 crore, driven by strong volume growth.
Standalone volume rose 29 percent from 1,32,000 units, with commercial vehicle volumes showing an increase of 34.4 percent and passenger vehicles 17.5 percent.
Tata Motors shares rose over 3.12 percent at Rs 396.05 on the BSE against a m 0.88 percent correction in the benchmark at 34,757.16 points.
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