Tata Motors Q3 net profit up 273% at Rs 2,424 cr

Country's largest commercial vehicle maker Tata Motors has reported a consolidated net profit of Rs 2,424 crore for the quarter ended December 2010, up 273% as compared to Rs 650 crore in same quarter the previous year.

Consolidated net sales went up by 21% to Rs 31,510 crore from Rs 26,043 crore (YoY). In a press conference, the management said:
-JLR (Jaguar Land Rover) Q3 net profit at Rs 1,958 crore
-Favourable improvement in retail, wholesale JLR sales
-Q3 operating profit margins at 15.2% versus 11.8%
-Automotive net debt to equity 0.80 as on December 31
-Faced intermittent supply constraints in Q3
-Q3 passenger car volumes hit by competition
-Taking several steps to boost Nano sales
-Tying up with more banks to improve Nano sales
-Q3 JLR EBITDA margin at 17.4% versus 9.8% (YoY)
-JLR margins have improved on quarter
-Inventory days are under control
-Contine to see strong demand in India
-Have a new pipeline of products for coming quarters