Tata Motors FY'11 consolidated net up 3 times at over Rs 9k cr

Tata Motors FY'11 consolidated net up 3 times at over Rs 9k cr

The company posted a consolidated net profit of Rs 2,571.06 crore in FY'10.
Despite roaring commodity prices, the company posted stellar profit in FY'11 due to better volumes and pricing across markets," Tata Motors Chief Financial Officer, C Ramakrishnan, told reporters here today.

"There was pressure from the commodity side, but we maintained a good balance. High commodity prices continue to be a challenge for us," he said.

The company's consolidated total income from operations during FY'2011 jumped by 33.09 per cent to Rs 1,23,133.30 crore from Rs 92,519.25 crore.

During 2010-11, the auto giant sold 10,80,994 vehicles across the world, up 24.2 per cent over the previous financial year.The company's British subsidiary Jaguar Land Rover posted a net revenue of GBP 9,906 million and profit after tax (PAT) of GBP 1,043 million. Its sales volumes improved to 2,43,621 in FY'11, as compared to 1,93,982 in the year-ago period.

"The sales volumes of Jaguar Land Rover improved due to better market conditions with strong growth in China, continued strong response to product introductions including the all new XJ and Land Rover models and favourable exchange rates," Ramakrishnan said. The company said that going forward, it was very optimistic about sale volumes of Jaguar and Land Rover.

"We are very optimistic about the future and hope Jaguar and Land Rover will do better in the coming days," said Tata Motors' Managing Director and Group CEO, Carl-Peter Foster.

In 2008, Tata Motors struck a USD 2.3 billion deal with US-based auto major Ford Motor Company to acquire its loss-making Jaguar and Land Rover brands.

After the FY'11 robust results, the company's Board has recommended a dividend of Rs 20 for every ordinary share and a dividend of Rs 20.50 per unit, for every 'A' ordinary share.

Tata Motors' board has approved a proposal to split its stock, under which its ordinary and 'A' ordinary shares, both of Rs 10 each, will be divided into shares of Rs 2 each.