Tata Motors jumped 4.74% to Rs 469.35 at 9:25 IST on BSE after the company reported better than expected Q4 results.
The result was declared after market hours yesterday, 23 May 2017.Meanwhile, the BSE Sensex was up 35.28 points, or 0.12%, to 30,400.53.
On the BSE, 2.31 lakh shares were traded in the counter so far, compared with average daily volumes of 5.44 lakh shares in the past one quarter. The stock had hit a high of Rs 472.95 and a low of Rs 466.15 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 380.55 on 23 May 2016.
Tata Motors' consolidated net profit fell 16.79% to Rs 4336 crore on 2.86% fall in revenues to Rs 77272 crore in Q4 March 2017 over Q4 March 2016. Consolidated profit and revenue in Q4 was lower due to translation impact from Pound to Indian Rupee.
Consolidated profit before tax shed 12.26% to Rs 5166 crore in Q4 March 2017 over Q4 March 2016. This broadly reflects strong retail sales in Jaguar Land Rover business on continued strong demand for the product and also higher wholesale volumes partially offset by overall higher marketing expenses and higher depreciation and amortization, company said.
Tata Motors is a market leader in commercial vehicles in India. The company's British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.
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