The weighted average increase will be 1.2%, depending on the variant and model.
India's leading vehicle manufacturer has announced a price increase across its ICE (internal combustion engine) portfolio of the passenger vehicles."The company has been absorbing a significant portion of the increased costs on account of regulatory changes & rise in overall input costs and is hence passing on some portion through this hike," the company said in a statement issued on 27 January 2023.
"Effective Feb 1st, 2023, the weighted average increase will be 1.2%, depending on the variant and model," it added.
Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.
Tata Motors reported a consolidated net profit of Rs 2,957.71 crore in Q3 FY23 as against a net loss of Rs 1,516.14 crore in Q3 FY22. Total revenue from operations increased by 22.5% YoY to Rs 88,488.59 crore during the quarter. EBITDA for the period under review was Rs 9,853 crore, up 33.2% YoY.
Shares of Tata Motors fell 0.45% to Rs 443.55 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content