Tata Motors Q3 net profit crashes 52% to Rs 1,636 cr
16 Feb 2013 5:26 AM IST
Hit by a demand slump, homegrown auto major Tata Motors on Thursday reported 52.2 per cent decline in consolidated net profit for the third quarter ended December 2012, at Rs 1,636.01 crore.
The company had posted a net profit of Rs 3,422.7 crore in the same period last fiscal, Tata Motors said in a filing to the BSE.
Consolidated total income from operations stood at Rs 46,089.5 crore during the third quarter as against Rs 45,260.25 crore in the same period last fiscal.
The company said the growth is revenue was on the back of strong demand, growth in volumes and favourable market mix at Jaguar Land Rover (JLR).
On a standalone basis, the company had a net loss of Rs 458.49 crore in the third quarter ended 31 December 2012 as against a standalone net profit of Rs 173.67 crore in the same period last fiscal.
Standalone total income from operations during the period under review stood at Rs 10,630.09 crore as against Rs 13,337.9 crore in the year-ago period.
During the third quarter, Tata Motors sold a total of 2,05,291 vehicles as against 2,31,328 units in the same period last fiscal.
Jaguar and Land Rover wholesales for the quarter ended 31 December 2012, grew 9.9 per cent over corresponding period last year to 94,828 units, Tata Motors said.
While Jaguar volumes for the period stood at 15,043 units, Land Rover volumes were at 79,785 units. Growth in volumes is driven by continued strong demand from China and sales of Range Rover Evoque and Freelander.
Jaguar and Land Rover revenues for the quarter were at £3,804 million, up 1.5 per cent from £3,749 million during the corresponding quarter last year. Profit after tax for the quarter was at £296 million as against £393 million in the corresponding quarter last year, it added.
In the domestic market, commercial vehicles sales for the quarter ended 31 December 2012, stood at 1,38,963 units, driven by the LCV segment and passenger vehicles sales stood at 54,675 units, it said.
PRAFUL PATEL’S SOS TO FM: PLEASE GIVE SOPS FOR AUTO SECTOR
Noting auto industry is riding through a rough patch, Heavy Industries and Public Enterprises Minister Praful Patel on Thursday said he will meet Finance Minister P Chidambaram in the next two days and suggest a stimulus for the sector to revive growth.
‘The Indian automobile industry has slowed down dramatically which is a cause of worry,’ he told reporters on the sidelines of a Ficci function here.
‘So, we need to certainly see if there is any way to give impetus to the industry. I will be meeting the Finance Minister in a day or two and certainly put forward our views for his consideration,’ he said.
Passenger car sales in the country declined by 12.5 per cent to 1,41,083 units in December last year.
The company had posted a net profit of Rs 3,422.7 crore in the same period last fiscal, Tata Motors said in a filing to the BSE.
Consolidated total income from operations stood at Rs 46,089.5 crore during the third quarter as against Rs 45,260.25 crore in the same period last fiscal.
The company said the growth is revenue was on the back of strong demand, growth in volumes and favourable market mix at Jaguar Land Rover (JLR).
On a standalone basis, the company had a net loss of Rs 458.49 crore in the third quarter ended 31 December 2012 as against a standalone net profit of Rs 173.67 crore in the same period last fiscal.
Standalone total income from operations during the period under review stood at Rs 10,630.09 crore as against Rs 13,337.9 crore in the year-ago period.
During the third quarter, Tata Motors sold a total of 2,05,291 vehicles as against 2,31,328 units in the same period last fiscal.
Jaguar and Land Rover wholesales for the quarter ended 31 December 2012, grew 9.9 per cent over corresponding period last year to 94,828 units, Tata Motors said.
While Jaguar volumes for the period stood at 15,043 units, Land Rover volumes were at 79,785 units. Growth in volumes is driven by continued strong demand from China and sales of Range Rover Evoque and Freelander.
Jaguar and Land Rover revenues for the quarter were at £3,804 million, up 1.5 per cent from £3,749 million during the corresponding quarter last year. Profit after tax for the quarter was at £296 million as against £393 million in the corresponding quarter last year, it added.
In the domestic market, commercial vehicles sales for the quarter ended 31 December 2012, stood at 1,38,963 units, driven by the LCV segment and passenger vehicles sales stood at 54,675 units, it said.
PRAFUL PATEL’S SOS TO FM: PLEASE GIVE SOPS FOR AUTO SECTOR
Noting auto industry is riding through a rough patch, Heavy Industries and Public Enterprises Minister Praful Patel on Thursday said he will meet Finance Minister P Chidambaram in the next two days and suggest a stimulus for the sector to revive growth.
‘The Indian automobile industry has slowed down dramatically which is a cause of worry,’ he told reporters on the sidelines of a Ficci function here.
‘So, we need to certainly see if there is any way to give impetus to the industry. I will be meeting the Finance Minister in a day or two and certainly put forward our views for his consideration,’ he said.
Passenger car sales in the country declined by 12.5 per cent to 1,41,083 units in December last year.
Next Story
