Tata Motors has rallied nearly 5% at Rs 381 on BSE after reporting a better than expected almost three-fold jump in consolidated net profit at Rs 4,805 crore for the quarter ended December 2013 (Q3FY2014), on back of strong demand, growth in volumes and favourable product mix and geographic mix at Jaguar Land Rover (JLR).
The company had posted a consolidated profit of Rs 1,628 crore in the same period of the previous financial year, Tata Motors said in a statement.
Net sales climbed 38.6% to Rs 63,536 crore from Rs 45,821 crore.
Analysts on an average had expected net sales of Rs 59,785 crore and profit of Rs 3,444 crore for the quarter.
The company’s British arm JLR's profit after tax during the period surged to 619 million pounds from 296 million pounds in the year-ago period. Revenue advanced 40 per cent to 5,328 million pounds from 3804 million pounds.
The stock opened at Rs 381 and touched high of Rs 382 on BSE. A combined around 1.35 million shares have changed hands on the counter in early morning deals on NSE and BSE.
The company had posted a consolidated profit of Rs 1,628 crore in the same period of the previous financial year, Tata Motors said in a statement.
Net sales climbed 38.6% to Rs 63,536 crore from Rs 45,821 crore.
Analysts on an average had expected net sales of Rs 59,785 crore and profit of Rs 3,444 crore for the quarter.
The company’s British arm JLR's profit after tax during the period surged to 619 million pounds from 296 million pounds in the year-ago period. Revenue advanced 40 per cent to 5,328 million pounds from 3804 million pounds.
The stock opened at Rs 381 and touched high of Rs 382 on BSE. A combined around 1.35 million shares have changed hands on the counter in early morning deals on NSE and BSE.