Tata Motors net profit at Rs 848 crore on strong JLR sales in Q2
Tata Motors on Monday reported consolidate profit after tax of Rs 848 crore for the September quarter, riding on robust sales of its British arm Jaguar Land Rover across various overseas markets.
Mumbai: Tata Motors on Monday reported consolidate profit after tax of Rs 848 crore for the September quarter, riding on robust sales of its British arm Jaguar Land Rover across various overseas markets.
It had posted a consolidated loss after tax of Rs 1,740 crore in the July-September period of last fiscal, Tata Motors said in a statement.
Consolidated net revenue in the second quarter of 2016-17 was up 6.94 per cent at Rs 67,000 crore, as against Rs 62,647 crore in the year-ago period.
JLR posted strong sales in all the regions -- UK, Europe, North America, China and other overseas markets, the company said.
On standalone basis, Tata Motor's net loss widened to Rs 631 crore for the quarter under review, compared to Rs 289 crore in the year-ago period.
Standalone net sales were at Rs 11,406 crore as against Rs 11,794 crore in the year-ago period, down 3.28 per cent.
The sales (including exports) of commercial and passenger vehicles for the quarter ended September 30, stood at 1,34,397 units, representing a growth of 6.1 per cent over last year.
JLR posted profit after tax of 244 million pounds (about Rs 2,065 crore) as compared with loss after tax of 92 million pound over the same period of last year.
Its revenue for the second quarter stood at 5,953 million pounds compared with 4,831 million pounds.
JLR wholesales (including China JV) for the quarter were at 1,42,459 units, up 29.3 per cent.