Tata Motors lost 5.79% to Rs 478 at 09:33 IST on BSE, in a weak market, despite reporting consolidated net profit of Rs 848.16 crore in Q2 September 2016 as compared with net loss of Rs 1740.20 crore in Q2 September 2015.
The result was announced on Monday, 14 November 2016, when the stock market was closed for a public holiday.
Meanwhile, the S&P BSE Sensex was down 245.98 points or 0.92% at 26,572.84
On BSE, so far 1.49 lakh shares were traded in the counter as against average daily volume of 6.49 lakh shares in the past two weeks. The stock hit a high of Rs 486.70 and a low of Rs 473.10 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 266 on 11 February 2016.
The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.
Tata Motors' total income rose 7% to Rs 66106.96 crore in Q2 September 2016 over Q2 September 2015. Tata Motors said that in Jaguar Land Rover (JLR) business, strong sales were seen in all the regions UK, Europe, North America, China and other overseas markets. In standalone business, the demand pause in medium and heavy commercial vehicle (M&HCV) partially offset by continued growth in the domestic light commercial vehicle (LCV) segment, car segment and exports, Tata Motors said.
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Tata Motors' consolidated profit before tax (before exceptional item) dropped 17.46% to Rs 983 crore in Q2 September 2016 over Q2 September 2015 broadly due to higher volumes and favourable operating exchange, in Jaguar Land Rover business more than offset by the realized hedging losses of Rs 3510 crore, and adverse commodity derivatives impact of Rs 187 crore.
After the exceptional items, the consolidated profit before tax was Rs 999 crore in Q2 September 2016, against loss before tax of Rs 2150 crore in Q2 September 2015, which included exceptional items of Rs 2493 crore on account of the vehicles damaged at Tianjin Port explosion in Jaguar Land Rover business.
Tata Motors' sales (including exports) of commercial and passenger vehicles rose 6.1% to 1.34 lakh units in Q2 September 2016 over Q2 September 2015.
Tata Motors is a market leader in commercial vehicles in India. The company's British unit JLR sells premium luxury cars.
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