New Delhi: Tata Motors, the auto company of Tata Group, released the December quarter results on Wednesday. The company has posted a quarterly profit for the first time in two years. The company has benefited from increased demand for passenger cars as well as medium and heavy commercial vehicles. The company’s net profit in the December quarter stood at Rs 2,957.71 crore. A year ago, the company had a loss of Rs 1516 crore in the same quarter, while the company’s loss in the previous quarter stood at Rs 944.61 crore. In the third quarter of the current financial year, the company’s revenue also increased by 22.5 percent to Rs 88,488.59 crore. 72,229 crore in the same quarter last year. Earlier, the company last posted profit in the October-December 2020 quarter.
The company’s operating profit also grew 11% year-on-year to Rs 9,900 crore in the December quarter and margin improved by 90 basis points to 11.1%. During this period, the revenue of Jaguar Land Rover (JLR) reached six billion pounds, which is 28 percent more than the same quarter last year and 15 percent more than the second quarter of this year. During this period, the revenue of passenger vehicle segment stood at Rs 11,671.12 crore as against Rs 8,492.60 crore in the same quarter last year. In this way, it has gained 37.43 percent.
Tata Group: This company of Tata Group came in profit for the first time, started eight years ago
50 thousand vehicles every month
Shailesh Chandra, MD, Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Limited, said that the third quarter of this financial year has been excellent for the company. There was good demand especially in the passenger vehicle industry. Tata Motors sent record vehicles for retail during this period. For the first time the company has crossed the mark of 50,000 units per month. The company’s revenue in the commercial vehicle segment stood at Rs 16,885.74 crore as against Rs 13,785.60 crore last year.
