Tata Motors shares surged 9 per cent on Tuesday after the company reported 3-fold rise in consolidated net profit figures for the quarter ended March 31, 2016. It had posted a net profit of Rs 1716.50 crore in the corresponding quarter a year ago.
Gross sales of the company jumped 18.56 per cent year-on-year to Rs 81,247.09 crore in the quarter under review.
Profit at its British unit Jaguar Land Rover (JLR) soared 56.3 per cent to 472 million pounds from 302 million pounds a year ago, driven by record sales across its key markets of Europe, China and the US.
On a standalone basis, the company reported a net profit of Rs 464.99 crore for the fourth quarter. It had posted a net loss of Rs 1,164.25 crore in the year-ago quarter. Standalone net sales were at Rs 12,459.51 crore against Rs 10,676.19 crore in the year-ago period.
For the financial year ended March 31, 2016, Tata Motors reported a consolidated net profit of Rs 13986.29 crore, down 0.03 per cent against Rs 13991.02 crore a year ago.
The share price of the company closed 8.95 per cent up at Rs 458.20.