Mumbai, February 26: Auto major Tata Motors today reported a consolidated net profit of Rs 650 crore for the third quarter ended December 31, 2009, driven by revival in demand in the domestic market on introduction of new products coupled with government stimulus.
The company had a net loss of Rs 2,598 crore in the same quarter ended December 31, 2008, Tata Motors said in a filing to the Bombay Stock Exchange.
“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,” the company said.
Total income increased to Rs 26,048 crore for the third quarter, from Rs 17,823 crore in the same period last year.
Tata Motors’ sales volume for the quarter (including exports) stood at 165,413 vehicles.
–PTI