Tata Motors Q4 net profit jumps 136% to Rs 6,234 cr

Tata Motors, India’s largest commercial vehicle company, has posted a spectacular 136 percent jump in the March 2012 net profit to Rs 6,234 crore from Rs 2,638 crore a year ago. This is much higher than the 50-55 percent growth analysts were expecting.

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Net sales (net of excise) also rose by 44.3 percent to Rs 50,908 crore compared to Rs 35,287 crore in the corresponding quarter of the previous year.

For the entire year, the company posted a growth of 35.6 percent in revenues to Rs 165,655 crore while net profit rose 46 percent to Rs 13,517 crores.

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Emerging demand for its Jaguar Land Rover (JLR) vehicles offset lacklustre performance at its core domestic business. The company, which makes the ultra-cheap Nano car and the sleek luxury Range Rover SUVs, said net profit for JLR for the quarter ended March was GBP696 million ($1.09 billion).

The stock closed marginally lower by 0.3 percent to Rs 275.5 per share.

Speaking at the press conference, the management says that :

•Plan to merge Jaguar, Land Rover to form one entity

•Cash & Equivalents stands at Rs 25,730 cr

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•JLR EBITDA Up 61.5% At 605 m Pound (YoY)

•JLR Revenue Up 51.5% At 4,140 m Pound (YoY)

•Weak Economic Outlook May Hit Vehicles Demand •Seeing Intense Competition In Passenger Cars

View the press release here.

(with inputs from Reuters)