Tata Motors' Q1 net profit at Rs 1,988.73 crore

Tata Motors' Q1 net profit at Rs 1,988.73 crore

Tata Motors' Q1 net profit  at Rs 1,988.73 crore

Money Matters: Tata Motors CEO Carl-Peter Forster (left) with Vice-Chairman Ravi Kant announcing the company’s quarterly results in Mumbai on Tuesday. AFP

The company posted a consolidated net profit of Rs 1988.73 crore, which is a significant turn around from net loss of Rs (328.78) crore in the corresponding quarter last year.

Further, Tata Motors Group, on Tuesday, reported consolidated revenues (net of excise) of Rs 27,055.57 crore, posting a growth of over 64.2 per cent over Rs 16,472 crore in the corresponding quarter of the last fiscal.  During the quarter, it reported a basic earnings per share (EPS) of Rs 34.80 for its consolidated operations as against a loss per share of Rs 6.40 in Q1’FY10.

The stand-alone results of Tata Motors for Q1 this fiscal showed a net profit of Rs 395.72 crore as compared to Rs 513.76 crore for the comparable quarter of last fiscal, showing a decline of 22.97 per cent.  However, the stand-alone revenues (net of excise) of Tata Motors for the quarter ended June 30, 2010 at Rs 10,416.26 crore, represented a growth of 62.7 per cent over Rs 6,404.02 crore in the corresponding quarter last year. “Overall economic growth, robust IIP and availability of liquidity led to robust domestic demand, resulting in volume growth (for Tata Motors) comprising both new products and the existing portfolio,” the company said.

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