Millennium Post

Tata Motors net zooms 10.5% to Rs 2,075 crore

Tata Motors on Wednesday posted a 10.5 per cent jump in consolidated net profit to Rs 2,075 crore for the second quarter ended September 30. The Tata Group company’s post-tax profit for the corresponding July-September period last year had stood at Rs 1,877 crore.

During the reporting period, there was a 19.9 per cent rise in consolidated revenues (net of excise) to Rs 43,403 crore, it said in a statement. However, on a standalone basis which represents its domestic operations, the revenues dipped to Rs 12,481 crore compared to the year-ago period’s Rs 12,954 crore, it said.

The company’s operating margin also slipped to 5.9 per cent from the 7.2 per cent in the year ago period.‘The weak macroeconomic outlook and sluggish industrial demand, coupled with diesel price increases, have impacted M&HCV (medium and heavy commercial vehicles) sales,’ the statement said.

A healthy jump in receipt of dividend from JLR and other subsidiaries (Rs 1,312 crore versus last year’s Rs 29 crore) resulted in the standalone profit after tax jumping to Rs 867 crore from Rs 102 crore.
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