Tata Motors gains on strong JLR performance in Q4

The stock rallied 5% to Rs 473 on BSE in early morning trade

Tata Motors rallied 5% to Rs 473 on BSE in early morning trade after its UK-based subsidiary, Jaguar Land Rover (JLR), posted better-than-expected performance in the March quarter (Q4).

JLR’s Ebitda (earnings before interest, tax, depreciation and amortization) margin improved to 14.5% from 9.3% in December quarter.

“The operating performance in the quarter reflects higher wholesale volumes, higher marketing cost and favourable operating exchange and revaluation offset by realized hedges,” Tata Motors said in a press release.

The company has reported 16.8% year-on-year (y-o-y) decline in its consolidated net profit after tax at Rs 4,366 crore, against