Self-driving car spinoff Waymo will buy up to 20,000 electric vehicles from Jaguar Land Rover to help realize its vision for a robotic ride-hailing service.
Profit from its British subsidiary Jagaur Land Rover (JLR) may fall 35 percent at pound 383.2 million crore in Q3 against pound 593 million (YoY). During the period, revenue may be up 2.4 percent at pound 6023.5 million versus pound 5879 million. EBITDA of JLR in Q3 may slip 19 percent at pound 892 million versus pound 1096 million.
Credit Suisse has maintained outperform rating on the stock with an increased target price of Rs 650 per share. The brokerage states after a massive positive surprise in Q1, JLR's margins held up well declining only 90 basis points.
Profit after tax may increase 26 percent Y-o-Y to GBP 386 million and revenues may jump 39 percent Y-o-Y to GBP 4,603 million in three-month period ended September 2013, led by strong sales.