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Tata Motors back in black with Q3 net profit at Rs 2,958 crore; beats estimates

The Street was expecting the auto major to swing back to black with net profit estimates anywhere between Rs 300-800 crore.

January 25, 2023 / 05:36 PM IST
Revenue from operations came in at Rs 88,488.59 crore, up 22.51 percent from Rs 72,229.29 crore in the same quarter last year

Revenue from operations came in at Rs 88,488.59 crore, up 22.51 percent from Rs 72,229.29 crore in the same quarter last year

 
 
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Tata Motors on January 25 reported a consolidated net profit of Rs 2,957.71 crore for the quarter ended December 2022, against a loss of Rs 1,516.14 crore in the same quarter last year.

Revenue from operations came in at Rs 88,488.59 crore, up 22.51 percent from Rs 72,229.29 crore in the same quarter last year, Tata Motors said in an exchange filing.

The Street was expecting the auto major to swing back to black with net profit estimates anywhere between Rs 300-800 crore. Consolidated sales were expected to rise over 14.5 percent year on year (YoY) and 3.9 percent sequentially to Rs 82,718 crore, estimates of analysts across four brokerages showed.

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