Printer Friendly

Tata Motors report consolidated net revenue grows by 30 percent to Rs.43,324 crores.

New Delhi, Aug. 9 -- Tata Motors has reported consolidated revenues (net of excise) of Rs.43,324 crores for the quarter ended June 30, 2012, posting a growth of 30.1 percent over Rs.33,289 crores in the corresponding quarter of the previous year on the back of strong growth in volumes of new products and favorable market mix at Jaguar Land Rover (JLR). The Consolidated Profit before Exceptional item and Tax was Rs.3,623 crores, posting a growth of 50.8 percent over Rs.2,403 crores in the corresponding quarter of the previous year.

The Consolidated Profit before Tax (PBT) for the quarter was Rs.3,183 crores, compared to Rs.2,346 crores for the corresponding quarter of the previous year. The Consolidated Profit/loss (after tax and post minority interest and profit in respect of associate companies) for the quarter was Rs.2,245 crores, as compared to Rs.2,000 crores in the corresponding quarter of the previous year. JLR tax expense for the quarter ended June 30, 2011, was lower consequent to utilization of past tax losses.

The Consolidated Profit for the quarter ended June 30, 2012, was impacted by Exceptional items of Rs.441 crores (loss of Rs.57 crores in corresponding period last year) on account of exchange loss (net) including on revaluation of foreign currency borrowings, deposits and loans arising from the depreciation of Indian Rupee (INR). Tata Motors standalone revenues (net of excise) were for the quarter ended June 30, 2012 of Rs.10,586 crores as compared to Rs.11,624 crores in the corresponding period last year. Weak macroeconomic parameters, excise duty increases and poor availability of freight, resulted in pressure on volumes in the MHCV segment. Further, competitive pressures on pricing in certain commercial and passenger vehicle segments and lower volumes, impacted the operating margins. Operating margin was 7.3 percent for the quarter ended June 30, 2012, as compared to 8.8 percent for the corresponding period last year. The Operating Profit (EBITDA) stood at Rs.774 crores in the quarter ended June 30, 2012, as compared to Rs.1,020 crores in the corresponding period last year.

The PBT for the quarter ended June 30, 2012 is Rs.237 crores as compared to Rs.466 crores in the corresponding period last year and the PAT for the quarter is Rs.205 crores as compared to Rs.401 crores in the corresponding period last year. The PBT and PAT for the quarter ended June 30, 2012, were adversely impacted by exchange loss (net) including on revaluation of foreign currency borrowings, deposits and loans arising from the depreciation of Indian Rupee (INR), of Rs.161 crores (Gain of Rs. 2 crores in corresponding period last year). Tata Motors' sales (including exports) of commercial and passenger vehicles for the quarter ended June 30, 2012, stood at 190,483 units, representing a decline of 3.6 percent, as compared to the corresponding period last year.

In the domestic market, the Company's Commercial vehicles sales for the quarter ended June 30, 2012, stood at 114,710 units, a growth of 1.3 percent over the corresponding period last year. Growth was driven by small commercial vehicles and was supported by improved production through our facilities in Pantnagar and Dharwad. The Company's market share in commercial vehicles was 56.2 pecrent for the quarter ended June 30, 2012. In the domestic market, the Company's Passenger vehicles, including Fiat and Jaguar and Land R over vehicles distributed in India, stood at 62,619 units for the quarter ended June 30, 2012, a decrease of 9.9 percent over the corresponding period last year. The Company continues focus on marketing initiatives and network actions and the sales & service process. The market share in Passenger vehicles for quarter ended June 30, 2012, stood at 9.8 percent.

Jaguar Land Rover Sales for the quarter ended June 30, 2012, grew 34.4 percent to 83,452 units. Of this, the Jaguar volumes for the period stood at 11,774 units and Land Rover volumes stood at 71,678 units. Growth in volumes was driven by sales of the new Range Rover Evoque and strong demand from China, which grew 91 percent year-on-year. Sales from the China region comprised 22.2 percent of total volumes for the quarter ended June 30, 2012, as against 15.7 percent for the corresponding period last year.

For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com

Copyright HT Media Ltd.

Provided by Syndigate.info an Albawaba.com company
COPYRIGHT 2012 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Wheels Unplugged
Article Type:Financial report
Date:Aug 9, 2012
Words:771
Previous Article:Audi AG continuing growth in Europe.
Next Article:Apollo Tyres net profit surges 79 percent in the first quarter.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters