Tata Motors Q3 net rockets 179%

Tata Motors has recorded a 179 per cent jump in net profit at Rs 210.88 crore for the third quarter of the current fiscal against Rs 75.71 crore in the corresponding quarter of the previous year.

The company's revenue in the same period increased 55 per cent at Rs 3,398 crore when compared with Rs 2194 in the third quarter of the previous fiscal.

The company has posted an operating profits of Rs 490 crore in the October-December 2003 period, a 71 per cent increase compared with the same period of the previous year.

Consequently the operating margins have improved to 14.4 per cent from 13.1 per cent in the same three months last year.

"The improved results are due to a sharp increase in total sales volumes during the quarter, and fourfold jump in exports," Pravin Kadle, executive director - finance and corporate affairs at Tata Motors said.

Exports of Indicas to MG Rover of UK was around 5,000 units. Kadle added that exports would help the company sustain its growth in the coming quarters.

Tata Motors net profits for the April- December 2003 period is up 219 per cent at Rs 518 crore and their net sales for the same period has grown 49 per cent to Rs 9,076 crore. The operating profits in the first nine months of the fiscal is up 68 per cent at Rs 1,261 crore.