1. Tata Motors Q1 consolidated net profit drops 57% to Rs 2,260 crore; shares up

Tata Motors Q1 consolidated net profit drops 57% to Rs 2,260 crore; shares up

Tata Motors reported 56.97 per cent year-on-year fall in consolidated net profit figures at Rs 2260.40 crore for the quarter ended June 30, 2016 against Rs 5254.23 crore in the corresponding quarter a year ago.

By: | New Delhi | Updated: August 26, 2016 3:56 PM
tata motors results Tata Motors reported 56.97 per cent year-on-year fall in consolidated net profit figures at Rs 2260.40 crore for the quarter ended June 30, 2016 against Rs 5254.23 crore in the corresponding quarter a year ago. (Reuters)

Tata Motors reported 56.97 per cent year-on-year fall in consolidated net profit figures at Rs 2,260.40 crore for the quarter ended June 30, 2016 against Rs 5,254.23 crore in the corresponding quarter a year ago. However, consolidated total income from operations increased by 9 per cent year-on-year to Rs 67,056.10 crore for the quarter under review against Rs 61,510.18 crore in the same quarter last year. Consolidated total expenses of the company jumped to Rs 63,993.99 crore for the quarter under review against Rs 54,244.95 crore in the same quarter last year.

On a standalone basis, net profit of the auto major slid 91 per cent year-on-year to Rs 25.75 crore for the quarter ended June 30, 2016 against Rs 289.84 crore in the same quarter last year. Income from operations jumped to Rs 11,464.74 crore from Rs 10,400.35 crore during the same period.

On JLR, Tata Motors in a release said, “Jaguar Land Rover wholesale and retail numbers stood at 120776 units and 118704 units for the quarter ended June 30, 2016. China JV wholesales and retail were 13558 units and 14059 units. Overall retail sales were up in all region reflecting strong sales of the Discovery Sport, XE and F-PACE – North America up 17 per cent, UK up 18 per cent, China up 19 per cent, Europe up 16 per cent and overseas market up 6 per cent.”

Shares of Tata Motors closed 2.01 per cent up at Rs 503.65. Tata Motors DVR closed 2.69 per cent up at Rs 328.35.

Tags: Tata Motors
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