Tata Motors jumped 8.43% to Rs 456 at 9:45 IST on BSE after consolidated net profit jumped 201.6% to Rs 5177.06 crore on 18.97% growth in total income to Rs 80933.04 crore in Q4 March 2016 over Q4 March 2015.
The result was announced after market hours yesterday, 30 May 2016.Meanwhile, the BSE Sensex was up 5.98 points, or 0.02%, to 26,731.58
High volumes were witnessed on the counter. On BSE, so far 9.45 lakh shares were traded in the counter, compared with an average volume of 6.56 lakh shares in the past one quarter. The stock hit high of Rs 463.90 and low of Rs 448.15 so far during the day.
Tata Motors said that the revenue growth in Q4 March 2016 reflects strong sales in all the regions for Jaguar Land Rover business namely in UK, Europe, North America, China and other overseas markets. The revenue also rose on account of continued robust volume growth in medium & heavy commercial vehicles (M&HCV) segment and start of volume growth in the light commercial vehicles (LCV) segment in standalone business.
Tata Motors said that consolidated profit before tax (before exceptional item) jumped 103.17% to Rs 5957 crore in Q4 March 2016 over Q4 March 2015 due to stronger operating performance in both standalone as well as Jaguar Land Rover business and lower net finance expenses partly offset by higher depreciation and amortization expenses, adverse revaluation of Euro payables and one time reserves and charges of Rs 1580 crore (166 million) for the industry-wide recall in the United States of potentially faulty airbags supplied by Takata, doubtful debts and previously capitalized investment in the Jaguar Land Rover business.
Further, exceptional items for Q4 March 2016 includes further insurance and other recoveries of Rs 555 crore on account of the vehicles damaged at Tianjin Port explosion in Jaguar Land Rover business.
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Tata Motors is a market leader in commercial vehicles in India. The company's British unit Jaguar Land Rover sells premium luxury cars.
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