Tata Motors Q1 net soars 57.5% to Rs 513.76 crore

Ravi Kant, Vice Chairman of Tata Motors announcing the financial results for the first quarter in Mumbai on Monday. PTI

Its Total Income has decreased to Rs 6,723.99 crore for the quarter ended June 30, 2009 from Rs 7244.05 crore in the corresponding period a year ago. The net interest cost at Rs 253.45 crore for the quarter increased by 125.6 per cent due to increased debt taken by the firm in 2008 to support its product programmes, investments and working capital requirements and depreciation at Rs 229.12 crore was higher by 26.7 per cent reflecting the increased investments in new products and supporting capabilities.
Forex value

For the reporting quarter, it pointed out, that there was an exceptional notional foreign exchange valuation loss of Rs 5.54 crore as against a loss of Rs 161.59 crore in the previous year. The company’s vehicles sales stood at 1,27,340 units as against 1,33,079 units for the quarter ended June 30, 2008 — a dip of 4.3 per cent. 

In passenger vehicles, it has completed the process of allotment of Tata Nanos, following the car’s launch in March 2009 and deliveries to the allottees have since begun. It also opened the first Jaguar Land Rover showroom in India at Mumbai. Along with the Fiat Linea, Fiat 500 and the Palio, the company has commenced the distribution of the Fiat Grande Punto in June 2009.

Meanwhile, the firm is reportedly conducting a feasibility study to sell its cars in Indonesia, and the market research could take about three to six months.  Tata Motors too has a plant in Thailand and had sold nearly 600 one-tonne pick-up trucks since entering the Thai market about a year ago. 

At macro level, Indonesia, along with China and India, posted positive growth in the June quarter of the current fiscal, while domestic car sales in Indonesia are expected to reach 450,000 units in 2009.

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