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Tata Motors Q3 profit jumps 67% to Rs 2,906 crore; JLR margin improves sharply

UK-based Jaguar Land Rover, which is owned by Tata Motors, reported profit before tax of 439 million pound in Q3 FY21, surging 263 percent from $121 million pound in the corresponding period.

January 29, 2021 / 04:45 PM IST
Source: Reuters

Source: Reuters

 
 
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Carmaker Tata Motors has reported a 67 percent year-on-year (YoY) growth in consolidated profit at Rs 2,906.45 crore for the quarter ended December 2020 driven by robust volumes, improved product mix and cost-saving measures. Profit in the year-ago period was Rs 1,738.3 crore.

Consolidated revenue from operations grew by 5.5 percent YoY to Rs 75,653.8 crore in Q3 FY21.

"Despite pandemic related uncertainties, supply bottlenecks and commodity inflation, we expect to consolidate our gains and end the fiscal year on a strong note. We remain committed to consistent, competitive, cash accretive growth and deleverage the business through the focused execution of our strategy in all our businesses," Tata Motors said in its BSE filing.

UK-based Jaguar Land Rover, which is owned by Tata Motors, reported profit before tax of 439 million pound in Q3 FY21, surging 263 percent from $121 million pound in the corresponding period.