Tata Motors registers a Consolidated Profit of Rs. 650.26 crores in Q3FY10

Published On Feb 26, 2010 09:57 AM By Meenal

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Tata Motors today reported consolidated gross revenues of Rs. 26,774.44 crores for the quarter ended December 31, 2009, a growth of 46.7% compared to Rs. 18,246.60 crores in the corresponding quarter of last year. Introduction of new products and strong continued growth in the existing portfolio, along with government stimulus, a benign liquidity environment and overall economic recovery, have driven Indian operations demand revival during the current year. Tata Motors’ sales volume for the quarter (including exports) stood at 165,413 vehicles. This is a growth of 67.5% over sales of 98,760 vehicles in Q3 2008-09, which witnessed steep decline in volumes impacted by the financial crisis.

The Jaguar Land Rover business turned profitable during the quarter. Supported by better market environment and sustained cost reduction efforts, it posted Net Profit After Tax of Rs. 416.95 crores. Wholesale volumes over the previous quarter of July – September, 2009, grew 28% with quarter-on-quarter volume improvement being noticed mainly in North America, Europe and China. Land Rover grew 34% aided by continued strong market reception to the 2010 model year vehicles launched earlier during the year. Jaguar volumes grew 11.5% led by strong growth of Jaguar XF while the production of the Jaguar X-Type, as announced earlier, ceased by the end of the quarter.

The company’s gross revenues were Rs. 65,536.36 crores in the nine months ended December 31, 2009, a growth of 13.6% compared to Rs. 57,679.77 crores in the corresponding period last year. The consolidated financial performance is not comparable to 2008-09 on account of the acquisition of Jaguar Land Rover in June 2008.