Millennium Post

Tata Motors Q2 profit skids 7.08% to Rs 3,291 crore

Tata Motors on Friday reported a decline of 7.08 per cent in its consolidated net profit at Rs 3,290.86 crore for the second quarter ended 30 September, 2014. The auto major had posted consolidated net profit of Rs 3,541.86 crore in the July-September period of 2013-14 fiscal.

Consolidated net sales during the quarter this year increased by 8.03 per cent to Rs 60,163.99 crore, from Rs 55,686.87 crore in the year-ago period, Tata Motors said in a filing to the BSE.

Revenue from the company's British unit, Jaguar Land Rover went up by 7.34 per cent to Rs 49,160.72 crore in the second quarter this fiscal, as against Rs 45,795 crore in the year-ago period.

On the other hand, revenue from Tata and other brand vehicles and financing during the quarter were at Rs 11,146.50 crore up 3.89 per cent from 10,728.01 crore in the same period a year ago.

On a standalone basis, Tata Motors' net loss widened to Rs 1,845.63 crore as against Rs 803.53 crore in the same period a year ago. Standalone net sales also declined by 1.17 per cent to Rs 8,657.85 crore in Q2, compared to Rs 8,761.10 crore Q2 of last fiscal.

The company's standalone unit volume sales were at 1,27,220 vehicles, including exports, for the quarter ended 30 September, decline of 15.70 per cent from 1,50,930 units in the corresponding period last year. Tata Motors shares closed at Rs 523.80 per scrip, down 0.47 per cent, on the Bombay Stock Exhcnage (BSE).
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