Tata Motors net jumps over 11-fold to Rs 1,215 crore

Tata Motors net jumps over 11-fold to Rs 1,215 crore

Tata Motors Group on Monday reported net profit of Rs 1,215 crore for the December quarter, up over 11-fold from Rs 111.6 crore a year ago.

Group revenue rose 16.1% to Rs 74,156 crore in the reporting quarter, the company said in an exchange filing on Monday.

On a standalone basis, Tata Motors India returned to the black with a net profit of Rs 183.65 crore on a revenue of Rs 16,102 crore, up 59%.

The company had reported loss of Rs 1,052.13 crore in the year-ago period and a net loss of Rs 295.30 crore in September quarter, the company said in an exchange filing.

Its cash-cow the British marquee JLR numbers printed lower with a pretax profit of 192 million pounds, down from 255 million pounds a year ago, which had included an $85 million insurance recovery. JLR revenue jumped 4.3% to 6.3 billion pounds.

"JLT profitability was impacted by the run-out of the 17 model year Range Rover and Range Rover Sport and higher depreciation and amortisation resulting from continued investment to drive profitable growth," the company said.

JLR operating profit margin expansion of 160 basis points at 10.9%.

On a standalone basis, Tata Motors' passenger and commercial vehicle business grew strongly. Revenue grew by 57.8% year-on-year to Rs 16,101.6 crore, driven by strong volume growth.

Standalone volume rose 29% from 1,32,000 units, with commercial vehicle volumes showing an increase of 34.4% and passenger vehicles 17.5%.

Tata Motors shares rose over 3.12% at Rs 396.05 on the BSE against a m 0.88% correction in the benchmark at 34,757.16 points.

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