Tata Motors posted a nearly flat net profit of ₹3,918.29 crore on a consolidated basis in the fourth quarter ended March 31, as challenging times continue to haunt the sector.

The company had posted a net profit of ₹3,945.47 crore in the same quarter last year.

On a standalone basis, the Tata Group company posted a widened net loss of ₹816.61 crore during the quarter, compared with a net loss of ₹312.15 crore recorded in the same period a year ago. “India business of Tata Motors continues to face tough market conditions during the fourth quarter of this year, impacted by weak consumer sentiments, fuel price hike, high-levels of inflation and reduced availability of finance,” its Chief Financial Officer, C Ramakrishnan, said.

During the quarter under review, the Tata Group company’s consolidated revenue rose 16.6 per cent to ₹65,317.14 crore (₹56,001.84 crore), and on a standalone basis it fell to ₹8,545.49 crore (₹11,067.79 crore). The company’s sales (including exports) of commercial and passenger vehicles for the quarter fell 33 per cent to 1.32 lakh units, compared to the previous quarter.

Jaguar Land Rover (JLR), Tata Motors’ British unit, recorded a net profit of £449 million (£377 million) during the quarter under review. The company, which posted a 15.9 per cent rise in retail sales during the year, expects the momentum to continue.

The company is also starting to produce vehicles from its China plant. It produced the first vehicle on a trial basis on Wednesday and would begin commercial production soon, said JLR Chief Executive Officer, Ralf Speth.

Related Topics
comment COMMENT NOW