Tata Motors Q2 net up 110% to Rs 729cr

Last Updated: Tuesday, November 17, 2009 - 22:49

Mumbai: The country`s largest auto maker
Tata Motors on Tuesday posted over two-fold jump in its net profit
for the quarter ended September 30, 2009 at Rs 729.14 crore on
the back of cut in forex losses, improvement in operating
margin and gain out of selling shares in Tata Steel.

The company had recorded Rs 346.99 crore net profit in
the corresponding quarter last fiscal.
"The jump in net profit is on account of a combination
of factors which include cut in forex losses, improvement in
operating margin and selling shares of Tata Steel," Tata
Motors` Chief Financial Officer C Ramakrishnan said today.

Tata Motors had a net foreign exchange loss of Rs 245.23
crore in Q2 FY`09 as compared to just Rs 15.31 crore in the
latest quarter.

Ramakrishnan also said Tata Motors had netted Rs 200
crore each in the first and the second quarter of the current
fiscal on account of selling its stakes in Tata Steel.

The EBIDTA margin of the company improved by 579 basis
points year-on-year to 13.36 per cent in the quarter ended
September 30, 2009.

Ramakrishnan, however, feared that commodities and
components prices are expected to exert pressure on margins in
the remaining quarters, but the extent of the impact could not
be ascertained now.
The total income from operations during the quarter ended
September also increased by 12.71 per cent at Rs 7,978.82
crore as against Rs 7,078.85 crore in the year-ago period, it
added.

Bureau Report



First Published: Tuesday, November 17, 2009 - 22:49

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