Tata Motors said net profit for the fiscal fourth quarter more than doubled, as emerging demand for its Jaguar Land Rover (JLR) vehicles offset lacklustre performance at its core domestic business.
The company, part of the software-to-steel Tata Group conglomerate, said consolidated net profit for the quarter ended March was Rs 6250 crore , as against Rs 2623 crore from the same period a year previously.
Consolidated net profit, after accounting for minority interest and share of associates, was at Rs 6230 crore.
Consolidated revenue rose 44% to Rs 50609 crore, compared with Rs 35148 crore a year ago.
The company, which makes the ultra-cheap Nano car and the sleek luxury Range Rover SUVs, said net profit for JLR for the quarter ended March was GBP696 million.
In the fourth quarter, Tata Motors' British subsidiary Jaguar Land Rover posted an over two-fold increase in its profit after tax to 696 million pound (over Rs 6,000 crore) from 262 million pound (over Rs 2,380 crore) from the same period last year, the statement said.
The revenue in January-March period rose by 51.52 per cent to 4,144 million pound (over Rs 36,100 crore) from 2,735 million pound (over Rs 23,830 crore) in the year-ago period, it added.
For 2011-12 fiscal, JLR's PAT stood at 1,481 million pound (over Rs 12,900 crore) as against 1,036 million pound (over Rs 9,020 crore) in FY'11, up 42.95%.
JLR's revenue in last fiscal went up by 36.89% to 13,512 million pound (over Rs 1,17,800 crore) from 9,871 million pound (over Rs 86,020 crore) in the previous fiscal, Tata Motors said.
In terms of volume sales, JLR witnessed a jump of 29.1% in FY'12 at 3,14,433 units.
Tata Motors had sold a total of 9,26,353 units of passenger and commercial vehicles during 2011-12, registering a rise of 10.7% over the previous fiscal, it added.
Shares of Tata Motors today closed 0.25% down at Rs 275.90 apiece on the BSE.
Also watch the accompanying video for the full press conference.
Set email alert for
ADS BY GOOGLE
video of the day
Pricey pvt bank valuations to shrink; keep cash: Dimensions