Tata Motors Q1 net profit jumps 3-fold

Tata Motors Q1 net profit jumps 3-fold

Tata Motors reported over 3-fold jump in consolidated net profit at Rs 5,398.21 crore for the first quarter ended June 30, riding on sharp increase in Jaguar Land Rover (JLR) sales.

The auto major had posted consolidated net profit of Rs 1,726.07 crore in the April-June period of the 2013-14 fiscal.

Net sales during Q1, 2014-15 increased by 37.18 per cent to Rs 64,150.74 crore, from Rs 46,761.91 crore in the year-ago period, Tata Motors said in a filing to the BSE.

Revenue from the company's British unit, JLR went up by 53.89 per cent to Rs 54,425.97 crore in Q1, as against Rs 35,364.97 crore in the year-ago period.

On the other hand, revenue from Tata and other brand vehicles and financing during the quarter were at Rs 9,898.38 crore - down 11.33 per cent from 11,163.9 crore in the same period a year ago.

On a standalone basis, Tata Motors' net profit declined by 44 per cent to Rs 393.65 crore as against Rs 703.26 crore in the same period a year ago.

Standalone net sales were at Rs 7,612.89 crore in Q1, compared to Rs 9,035.61 crore Q1 of last fiscal. Tata Motors shares closed at Rs 447.40 apiece, up 3.33 per cent, on the BSE.

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