Profit of Rs.3203 crore for Tata in Q1, sales rise by 42%
In a filing to BSE, Tata Motors said its consolidated income for the quarter came in at Rs 1,02,236 crore, up 42.1 per cent YoY.
Tata Motors on Tuesday declared a consolidated profit of Rs 3,202.80 crore for the June quarter, compared with a flop of Rs 5,006.60 crore in a similar quarter last year. Consolidated quarterly income was at Rs 1,02,236 crore, up 42.1 per cent, the Tata Group company said in a BSE filing.
Tata Motors reported a significant profit in Q1:
Ebitda for the quarter was at Rs 14,700 crore, up 177 per cent. EBIT came in at around Rs 8,300 crore, caused by JLR and CV businesses, whilst the PV business was steady.
Tata Motors stated its free cash flow (automotive) for the June quarter was optimistic at Rs 2,500 crore, caused by a solid improvement in cash earnings. Net automotive debt got lowered to Rs 41,700 crore, it confirmed.
The British firm Jaguar Land Rover (JLR) earnings are up by 57 per cent to £6.9 billion on solid wholesales and improved mix, resulting in EBIT margins of 8.6 per cent (up 1,300bps). CV volumes dropped by 15% over the previous year due to the change to BS6 Phase 2.
“However, the EBIT margins improved to 6.5 per cent (up 370 bps), benefiting from the demand-pull strategy and richer mix. PV business was steady with 11.1 per cent revenue growth and EBIT of 1 per cent (+10bps),” Tata Motors confirmed.
Tata Motors said it remains buoyant regarding the demand situation despite near-term delays and predicts a moderate inflationary circumstance to continue in the near term.
The auto business said it seeks to deliver a strong performance in the remainder of the year, too, thanks to a healthy order book coupled with low-break-even in JLR, a persistent improvement in demand whilst we thrive on driving demand-pull plan in CV, a set of compelling launches ahead of the festive term in PV and continued aggression in EVs.
