 "Tata Motors rallies 6% on stellar June quarter results")
Tata Motors has rallied 6% to Rs 475 in early morning deals on National Stock Exchange (NSE) after reporting a robust 213% year-on-year (y-o-y) jump in consolidated net profit at Rs 5,398 crore for the quarter ended June 2014 (Q1), on back of strong demand for new products, growth in volumes, richer product mix and richer geographic mix at Jaguar Land Rover (JLR).
The country’s biggest automobile manufacturer had profit of Rs 1,726 crore in the corresponding quarter last year.
Consolidated revenues (net of excise) of Rs 64,683 crore for the quarter, a growth of 38% over Rs 46,796 crore for the corresponding quarter of the previous year, Tata Motors said in a statement.
Revenue from JLR went up by 54% to Rs 54,426 crore in Q1, as against Rs 35,365 crore in the year-ago period. JLR wholesale and retail volumes for the quarter grew by 27.1% and 22.0%, over the corresponding quarter last year and stood at 115,156 units and 115,596 units, respectively.
Operating margins at its JLR business rose to 20% from 16% a year ago, while margins at the India business fell to minus 2.8% from 2.3%.
The stock opened at Rs 481 and hit a high of Rs 482 on NSE. A combined 2.91 million shares changed hands on the counter in first 10 minutes of trade on NSE and BSE.
The country’s biggest automobile manufacturer had profit of Rs 1,726 crore in the corresponding quarter last year.
Consolidated revenues (net of excise) of Rs 64,683 crore for the quarter, a growth of 38% over Rs 46,796 crore for the corresponding quarter of the previous year, Tata Motors said in a statement.
Revenue from JLR went up by 54% to Rs 54,426 crore in Q1, as against Rs 35,365 crore in the year-ago period. JLR wholesale and retail volumes for the quarter grew by 27.1% and 22.0%, over the corresponding quarter last year and stood at 115,156 units and 115,596 units, respectively.
Operating margins at its JLR business rose to 20% from 16% a year ago, while margins at the India business fell to minus 2.8% from 2.3%.
The stock opened at Rs 481 and hit a high of Rs 482 on NSE. A combined 2.91 million shares changed hands on the counter in first 10 minutes of trade on NSE and BSE.