Tata Motors fell 2.96% to Rs 278.85 on BSE after consolidated net profit fell 23.12% to Rs 1726 on 8% increase in revenues to Rs 46785 crore in Q1 June 2013 over Q1 June 2012.
The result was announced at the fag end of trading session today, 7 August 2013.
Meanwhile, the S&P BSE Sensex was down 68.16 points, or 0.36%, to 18,664.88.
On BSE, 19.08 lakh shares were traded in the counter as against an average daily volume of 8.82 lakh shares in the past one quarter.
The stock hit a high of Rs 286.65 and a low of Rs 272.50 so far during the day. The stock had hit a 52-week high of Rs 337.05 on 10 January 2013. The stock had hit a 52-week low of Rs 224.15 on 13 August 2012.
The stock had outperformed the market over the past one month till 6 August 2013, falling 2.99% compared with the Sensex's 3.91% fall. The scrip had also outperformed the market in past one quarter, falling 1.27% as against Sensex's 4.78% fall.
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The large-cap commercial vehicles maker has an equity capital of Rs 643.72 crore. Face value per share is Rs 2.
Tata Motors said its revenues grew despite a weak operating environment in the standalone business which was more than offset by strong demand, growth in volumes, richer product mix and favourable foreign exchange at Jaguar Land Rover (JLR).
JLR's wholesales and retails grew 8.6% and 10.4% to 90,620 units and 94,719 units, respectively, in Q1 June 2013 over Q1 June 2012. Following strong response to its new products and powertrain options, Jaguar wholesales and retail volumes grew 57.8% and 28.0% to 18,577 units and 17,459 units, respectively, as against 11,774 units and 13,638 units, respectively, in the corresponding quarter last year. Following strong response to the all-new Range Rover, continued demand for its products and preparation for the all-new Range Rover Sport to be launched in the coming months, Land Rover wholesales and retail volumes stood at 72,043 units and 77,260 units (growth of 0.5% and 7.1% over corresponding quarter last year).
JLR's revenues grew 12.6% to GBP 4097 million in Q1 June 2013 over Q1 June 2012. The operating profit grew 28.1% to GBP 675 million and operating margin was reported at 16.5%, reflecting wholesales volume increase, favourable exchange rate, richer product mix supported by launch of all-new Range Rover and F-TYPE.
JLR's profit before tax grew 24.6% to GBP 415 million in Q1 June 2013 over Q1 June 2012 due to higher operating profit partially offset by higher depreciation and amortisation as well as higher finance expense, net of more favourable exchange revaluation. Profit after tax rose 28.8% to GBP 304 million in Q1 June 2013 over Q1 June 2012. JLR financial numbers are as per International Financial Reporting Standards (IFRS).
Tata Daewoo Commercial Vehicles Co. registered net revenues of South Korean Won (KRW) 240 billion and recorded profit after tax of KRW 8 billion in the quarter ended 30 June 2013.
Tata Motors Finance, the company's captive financing subsidiary, registered net revenue from operations of Rs 819 crore and reported profit after tax of Rs 80 crore for the quarter ended 30 June 2013 (a growth of 9.7% over the corresponding quarter last year).
Tata Motors is India's largest automobile company, with consolidated revenues of Rs 1,88,818 crore in 2012-13. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, Spain, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 7.5 million Tata vehicles plying in India, Tata Motors is the country's market leader in commercial vehicles and among the top in passenger vehicles. It is also the world's fourth largest truck and bus manufacturer. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia, South America, CIS and Russia.
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