Tata Motors, one of the leading passenger, luxury and commercial vehicle manufacturer has announced a robust financial performance with growth across businesses.
The company announced revenue of Rs 110,577 crore, up 25 percent YoY, the EBITDA came at Rs 15,333 crore, up 59 percent YoY, and net profit at Rs 7,025 crore, up 138 percent YoY respectively.
The growth can be attributed to Jaguar Land Rover revenue improving 22 percent to £7.4 billion; Improved wholesales and reduced material costs resulted in EBIT margins of 8.8%. CV revenue improved by 19.2% and EBIT improved to 8.6 percent benefiting from higher realisations and richer mix. PV revenues were up by 10.6 percent and EBIT margins improved to 2.1% led by savings in commodity costs.
PB Balaji, Group CFO, Tata Motors said: “It is satisfying to see our businesses execute well on their differentiated strategies and deliver a strong set of results for the quarter, thereby making it 6 quarters of consistent delivery. We aim to end the year on a strong footing and remain confident of sustaining our performance in the coming quarters and delivering on our de-leveraging plans.”
The company said it was confident in its future financial plan as it had reduced debt by almost Rs 28,000 crore in last 12 months.
