Tata Motors reports net profit of Rs 3,300-cr for Q1
Riding on sharp improvements in performance of its British arm Jaguar Land Rover and commercial vehicles business
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New Delhi Tata Motors on Tuesday reported a consolidated net profit of Rs 3,300.65 crore in the first quarter ended June 30, riding on sharp improvements in performance of its British arm Jaguar Land Rover and commercial vehicles business.
The company had posted a consolidated net loss of Rs 4,950.97 crore in the same quarter last fiscal, Tata Motors said in a regulatory filing. Consolidated revenue from operations stood at Rs 1,01,528.49 crore, as compared to Rs 71,227.76 crore in the year-ago period, it added. Total expenses were at Rs 98,266.93 crore, as against Rs 77,783.69 crore in the same quarter a year ago, the company said. On a standalone basis, loss after tax narrowed to Rs 64.04 crore, from Rs 181.03 crore in the year-ago period, the filing said. Standalone revenue from operations were at Rs 15,733.05 crore, as compared to 14,793.12 crore, it added.
Overall, Tata Motors said it continued its strong performance in Q1 FY24 showing a sharp improvement driven by JLR and commercial vehicles businesses, whilst the passenger vehicles business was steady, the company said.
