Tata Motors more than doubled its net profits in the March quarter to Rs 6,234 crore on a 44 per cent growth in revenues at Rs 50,908 crore. Sales of its Jaguar Land Rover models abroad continued to be robust and compensated for sluggish performance in the domestic market.
Jaguar Land Rover sales for the fourth quarter grew 48.2 per cent to 98,021 units. “The recently launched new products continue to receive positive response. The newly launched Range Rover Evoque clocked 60,217 wholesale units till March 2012. Sales from the China region grew strongly and comprised 19 per cent of total volumes, against 12.8 per cent for the corresponding period last year,” said a company statement. For the full fiscal, profits were at Rs 13,517 crore, on a consolidated revenue of Rs 1,65,655 crore. Strong sales growth in China for Jaguar Land Rover and Evoque models saw revenues grow 51 per cent to £4,144 million.
Tata Motors' standalone profit was down for the financial year 2011-12. The standalone profit before tax (PBT) for FY 2011-12 was Rs 1,341 crore against Rs. 2,197 crore for FY 10-11.
The standalone profit after tax (PAT) for FY 2011-12 was Rs 1,242 crore, compared with Rs 1,812 crore in FY 10-11.
The Tata Motors scrip closed at Rs 275.90 on the BSE on Tuesday, down 0.25 per cent from its previous close.