Tata Motors Q1 net profit dips 49 percent

Mumbai, Aug.7 : Tata Motors on Friday reported a 48.7 percent decline in consolidated net profit at Rs 2,768.91 crore for the first quarter ending 30 June.

A company statement-cum filing said that this was due poor sales registered by Jaguar Land Rover (JLR).

In fiscal 2014-15, Tata Motors reported a consolidated net profit of Rs 5,398.21 crore in the same period

Consolidated net sales were pegged at Rs 60,180.57 crore as against Rs 64,150.74 crore in fiscal 2014-15. This was 6.18 percent down, the company said in a filing before the Bombay Stock Exchange today.

The filing revealed that JLR’s revenue stood at Rs 49,178.5 crore during the first quarter as against Rs 54,425.97 crore in fiscal 2014-15, a drop of 9.64 percent.

Tata Motors sales, including exports, of commercial and passenger vehicles for the quarter stood at 1,17,439 units, up 6.2 per cent, as compared to the corresponding quarter last fiscal. On a standalone basis, Tata Motors net profit for the June quarter stood at Rs 257.57 crore, down 34.56 per cent from Rs 393.65 crore in the year-ago period.

Standalone net sales were at Rs 9,197.62 crore as against Rs 7,612.89 crore in the previous fiscal, it added.

Tata Motors shares today ended at Rs 392.55 apiece on the BSE, up 2.52 percent from the previous close. (ANI)