Company’s Jaguar Land Rover unit, which the company bought from Ford Motor in 2008 is doing particularly well
Tata Motors, the country's largest truck and bus maker, on Friday reported a consolidated net profit of Rs2,420 crore for the third quarter ended 31 December 2010, from Rs650 crore in the corresponding period a year ago, on robust sales at home and improving demand at its Jaguar and Land Rover unit.
Standalone net profit increased 2.46% at Rs410 crore in the period compared to Rs400.14 crore in the previous corresponding period, the company said in a statement.
Consolidated revenue rose 22% to Rs31,685 crore from the year-ago period. Net sales during the October-December quarter stood at Rs11,458.95 crore compared to Rs8,923.99 crore in the corresponding period of the previous financial year.
During the period under review, consumption of raw materials and components cost stood at Rs 6,498.97 crore. (Compared to Rs 4,975.29 crore in the previous period.) Vehicle sales got better in the quarter at 1,94,085 units compared to 1,65,413 units in the year-ago period.
The company, whose products include utility vehicles, cars and the ultra-cheap Nano, is seeing a surge in demand within the country amid rapid economic growth. The Jaguar Land Rover business also reported profit after tax of Rs1,958 crore, Tata Motors said.
Tata Motors shares closed the week at Rs 1,144.65 on the Bombay Stock Exchange (BSE), up 3.79% from the previous close compared with the Sensex gain of 1.5%.
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