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Tata Motors Q1 consol net profit up at Rs 1,999 cr
India's largest commercial vehicle manufacturer Tata Motors has reported a net profit of Rs 1,999 crore in the first quarter of FY12 as against Rs 1,988 crore in the corresponding quarter last fiscal.
India's largest commercial vehicle manufacturer Tata Motors has reported a net profit of Rs 1,999 crore in the first quarter of FY12 as against Rs 1,988 crore in the corresponding quarter last fiscal.
Consolidated net sales increased 23.4% to Rs 33,392 crore from Rs 27,055 crore year-on-year.
Bottomline was way below expectations while topline was better than estimates. CNBC-TV18 poll saw net profit of Rs 2,242 crore and net sales of Rs 32,000 crore.
In a press conference, the management of the company said consolidated operating margin declined to 13.3% in Q1FY12 versus 14.6% in same quarter the previous year.
"We raised truck and bus prices by 2.5% in Q1. We also raised car and utility vehicles prices by 2%."
