During the December quarter, Tata Motors net profit grew to Rs4,805 crore, contributed by 61% growth in Jaguar Land Rover volumes
Tata Motors Ltd, India’s largest vehicle manufacturer reported a 195% jump in its third quarter net profit, mainly on robust volumes in its Jaguar Land Rover division. The company’s domestic sales for passenger and commercial vehicles, however, remained subdued.
For the quarter to end-December, the Tata group company said, its consolidated net profit grew 195% to Rs4,805 crore from Rs1,628 crore while, its total consolidated revenues, including sales, grew 39%to Rs63,877 crore from Rs46,090 crore, a year ago period.
During the quarter, Tata Motor’s total revenues from JLR division grew 61% toRs53,892.50 crore, thus accounting for 85% share in its total revenues. However except JLR, Tata Motors and its other brands’ total revenues fell 21% to Rs9764.92 crore from Rs12,345.19 crore a year ago period.
“Jaguar wholesale and retail volumes for the quarter ended 31December, 2013 grew 22.7% to 116,357 units and Land Rover grew 26.5% to 112,172 units as compared to year ago. Growth in volumes is driven by launch of new Range Rover Sport, new Range Rover and Jaguar F-TYPE, alongside higher volumes of the newer XF and XJ derivatives,” Tata Motors said in regulatory filing.
Tata Motors closed Monday marginally down at Rs364 on the BSE, while the 30-share Sensex ended the day flat at 20,334.
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