Homegrown auto major Tata Motors on Monday reported an almost three-fold increase in consolidated net profit to Rs 4,804.80 crore (Rs 48.04 billion), driven by its British arm Jaguar Land Rover.
The company had posted a consolidated profit of Rs 1,627.5 crore (Rs 16.27 billion)in the same period of the previous financial year, Tata Motors said in a statement.
Net sales climbed 38.6 per cent to Rs 63,536.06 crore (Rs 635.36 billion) from Rs 45,821.31 crore 9rs 458.21 billion).
JLR's profit after tax during the period surged to 619 million pounds from 296 million pounds in the year-ago period. Revenue advanced 40 per cent to 5,328 million pounds from 3804 million pounds.
Wholesale sales volumes for JLR were up 22.7 per cent at 1,16,357 units, driven by models such as the Range Rover Sport, the new Range Rover and the Jaguar F-Type, along with the new XF and XJ variants, the company said.
On a standalone basis, Tata Motors posted a net profit of Rs 1,251.40 crore (Rs 12.51 billion) as compared to a net loss of Rs 458.49 crore (Rs 4.58 billion) in the same period a year earlier.
Standalone net revenue declined to Rs 7,769.67 crore (Rs 77.69 billion) as against Rs 10,630.09 crore (Rs 106.30 billion).
The company said its sales volumes dropped 35.7 per cent to 1,32,087 units on a standalone basis.
Tata Motors shares rose 0.86 per cent to Rs 364 at the close on the BSE.
