Tata Motors declares its Quarterly results

Tata Motors Q1 cons net profit at Rs 1989 cr.

India's largest commercial vehicle maker - Tata Motors has announced its results for the quarter ended June 2010. It has reported consolidated net profit of Rs 1,989 crore as against loss of Rs 328 crore.
Net sales jumped 64.25% to Rs 27,055 crore from Rs 16,472 crore.

Its standalone profit after tax stood at Rs 395.72 crore as against Rs 513.76 crore for the quarter ended June 30, 2009 and revenues for the same period came in at Rs 10,416.26 crore versus Rs 6,404.02 crore, a growth of 62.7% (YoY).

Its luxury brand Jaguar Land Rover (JLR) has reported profit before tax of GBP 233.82 million.
The company said, "With the positive market reception of the enhanced product range in an improved market environment as well as continued cost reduction efforts, the business was able to show sustained quarter on quarter improvement towards solid profitability in the quarter."

Tata Daewoo Commercial Vehicles Company reported a 20.9% growth in sales in the quarter. Tata Motors Finance, the company’s captive financing subsidiary, reported a net profit of Rs 23.52 crore and improved its NPA performance through better collection efficiency.

In the domestic market, the company’s commercial vehicles sales increased by 38.7% to 100,186 units, mainly supported by medium and heavy commercial vehicles which grew by 62.4% year-on-year. Its market share in commercial vehicles segment was at 61%.

Source - moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer - DENIP Consultants Pvt Ltd