Tuesday, 31 May 2016

Domestic Turnaround, Jaguar Land Rover Boosts Tata Motors Net Profit 3-Fold

Mumbai: A remarkable turnaround of its struggling domestic unit, and record high volumes and margin improvements at its marquee British business have boosted Tata Motors Group net profit by three-fold to Rs 5,177 crore in the three months to March from over Rs 1,717 crore a year ago.
Profit at its British unit Jaguar Land Rover, which has been its cash machine for many years now, soared 56.3 percent to 472 million pounds from 302 million pounds a year ago, driven by record sales across its key markets of Europe, China and the US.
While JLR’s retail sales in Europe soared 55 percent in the quarter under review, its deliveries in China climbed 19 percent, driven by the local production of the Land Rover Discovery Sport SUV and the ramp up of the Jaguar XE sedan.
The city-based company’s consolidated sales grew 18.76 percent to Rs 79,926 crore during the reporting quarter.
On a standalone basis, Tata Motors India reported a net profit of Rs 465 crore for the fourth quarter against a net loss of Rs 1,164.25 crore a year ago.
For the full year, the domestic unit posted a net profit of Rs 234.23 crore as against a whopping net loss of
Sales, including exports, of commercial and passenger vehicles for the quarter stood at 1,44,507 units, representing a growth of 3.9 percent and taking the revenues for the quarter to Rs 12,570 crore, up from Rs 10,786 crore last year.


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