Tata Motors posts net profit after 7 quarters

The carmaker registered a 28% rise in revenue to Rs 15,794 crore compared to the previous year.

Tata Motors bounced back by posting a Q3 net profit after seven quarters. The carmaker’s net profit stood at Rs 2,958 crore compared to a loss of Rs 1,516 crore in the previous year.

Tata Motors’ consolidated revenue also rose by 22.5% to Rs 88,489 crore. While the company’s net profit for the third quarter rose to Rs 506.19 crore, its consolidated operating profit grew by 11% YoY to Rs 9,900 crore.

The carmaker registered a 28% rise in revenue to Rs 15,794 crore compared to the previous year.

Jaguar Land Rover also recorded a 28% growth compared to the previous year, while its revenues rose by 15%. The company’s profit before tax for the quarter was GBP 265 million compared to GBP 9 million a year ago.

Tata’s passenger vehicle division posted a revenue of Rs 11,700 crore, a growth of 37% YoY. The company sold a record 50,000+ units in the December quarter.

Tata’s commercial vehicle division on the other hand posted a revenue of Rs 16,900 crore, with a growth of 22.5% and an 8.4% increase in operating margin.

Source: ET Auto