Tata Motors Q2 net sales up 27% at Rs 35940 cr

By Sonia Shenoy, CNBC-TV18

Tata Motors, country's largest commercial vehicle manufacturer, has reported a consolidated net profit of Rs 1,880 crore in the second quarter of FY12, a fall of 15.32% as compared to Rs 2,220 crore in the corresponding quarter of last fiscal. This was due to the consolidated forex loss of Rs 440 crore versus gain of Rs 130 crore during the same period. Consolidated net sales shot up 27% to Rs 35,940 crore from Rs 28,310 crore year-on-year. Topline as well as bottomline numbers were below expectations; CNBC-TV18 poll saw revenues at Rs 34,506 crore and profit after tax at Rs 2,046 crore, respectively. EBITDA margin grew at 7.2% in the July-September quarter of FY12 versus 10% in a year ago period. Jaguar Land Rover's (JLR) operating margin stood at 14.9% in the quarter ended September 2011.