MY KOLKATA EDUGRAPH
ADVERTISEMENT
regular-article-logo Saturday, 15 June 2024

Tata Motors sees 222 per cent jump in consolidated net profits for January-March quarter

The directors have recommended a final dividend of ₹3 per ordinary share and a special dividend of ₹ 3. They also proposed a final dividend of ₹6.20 per share for `A’ ordinary shares for the fiscal year

Our Special Correspondent Mumbai Published 11.05.24, 10:27 AM
Representational image

Representational image Sourced by the Telegraph

Tata Motors hugely exceeded Street expectations on Friday when it reported a 222 per cent jump in consolidated net profits for the quarter ended March 31, 2024, buoyed by deferred tax gains, amid strong performance by Jaguar Land Rover (JLR) and its passenger vehicle business.

The auto major posted a net profit of 17,407.18 crore compared with 5,407.79 crore a year ago, against analyst estimates of around 7,000 crore net. The jump came on account of a deferred tax writeback of 9,478 crore.

ADVERTISEMENT

Consolidated revenues grew to 1.19 lakh crore from 1.05 lakh crore in the year-ago period, a growth of 13.51 per cent.

The directors have recommended a final dividend of 3 per ordinary share and a special dividend of 3. They also proposed a final dividend of 6.20 per share for `A’ ordinary shares for the fiscal year.

The quarter saw JLR putting a strong performance with revenues rising 10.7 per cent to £7.8 billion as against £ 7.1 billion. Its profit after tax jumped to £1.39 billion from £259 million, an increase of 1132 per cent. JLR’s free cash flows were at £892 million against £815 million.

Tata Motors’ passenger vehicles business also put up an impressive show with revenues rising 19.3 per cent to 14,400 crore.

Revenues in commercial vehicles rose 1.6 per cent to 21,600 crore, though volumes at 10,460 units were lower by 7 per cent because of higher purchases under BS-VI transition.

Follow us on:
ADVERTISEMENT