Tata Motors rests 75% temps in Jamshedpur as demand in low gear
Consolidated Ebitda came in at Rs 5,660 crore, down 17% y-o-y driven by a sharp decline in M&HCV volumes in the home market and a moderate decline in the performance of its Jaguar Land Rover unit.
“We believe M&HCV volumes will remain under pressure in the near term and the standalone business will continue to report losses for the next few quarters,” Kotak Institutional Equities wrote in a report.
The auto major’s Jamshedpur plant had earlier in 2010-11 achieved a landmark by becoming the first factory in the country to cross production of 1 lakh commercial vehicles during a year.
* The Jamshedpur plant, which has 5,500 temporary and 5,000 permanent workers, has seen 5 block closures so far in FY13
* The plant turned out around 4,500 HCV/MCV chassis in Jan, a shade better than the average output in recent months
* In 2010-11, the plant became the first factory in India to cross production of 1 lakh commercial vehicles in a year
* Tata Motors reported lower sales volumes at home of 2.03 lakh units, down 10.2% y-o-y in the 3 months to December
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