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Tata Motors has posted a two per cent fall in consolidated net profit at ₹3,507.54 crore in the third quarter, impacted by a weak sales mix and dull market conditions. A non-recurrence of an annual China tax rebate, which the company had received in the comparable year-ago quarter, also had its impact on the quarter.
The company had posted a net profit of ₹3580.72 crore for the comparable year-ago quarter. During the quarter under review, the company’s consolidated total income rose to ₹72,437.02 crore (₹70,433.92 crore).
On a standalone basis, Tata Motors pared its net loss to ₹200.86 crore (net loss of ₹2,122.72 crore) on a total income of ₹10,475.39 crore (₹9,118.77 crore).
Tata Motors’ India business posted a significant improvement in operating margin to 5.7 per cent, an improvement of 860 basis points on a year-on-year basis. “This is after adjusting for the Singur and other one-offs in the third quarter of FY15,” said Chief Financial Officer C Ramakrishnan.
The Medium and Heavy Commercial Vehicle (M&HCV) segment posted a 14.8 per cent year-on-year growth. The India business maintained positive EBITDA margin trend in all the three quarters of current
On Thursday, Tata Motors shares prices closed 5.55 per cent lower at ₹275.65 on the BSE.
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