Tata Motors remains vigilant about the evolving COVID situation and has scaled up efforts to enhance the wellbeing of its personnel and their supporting ecosystem.
The auto major said that the lockdown enforced in various parts of the country is expected to impact vehicle demand temporarily. Hence, the company has set in motion a comprehensive 'Business Agility Plan' to protect and serve the interests of its customers, dealers and suppliers."By carefully calibrating and matching supplies with retail demand, Tata Motors shall ensure that optimal levels of inventory are maintained with dealers to meet whatever customer demands arise and also be prepared for a rebound in demand once the situation returns to normalcy. We will also continue to review and plan for the critical raw materials to cater to this volatile demand outlook and work closely with our vendor partners to meet the same," the company said in a statement.
Tata Motors said it believes this approach best serves the interests of all stakeholders by utilising the cash invested in the entire ecosystem in the most optimal manner.
On a consolidated basis, Tata Motors' net profit surged 64.9% to Rs 3,222.21 crore on 5.4% rise in net sales to Rs 74,878.98 crore in Q3 FY21 over Q3 FY20.
Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.
Shares of Tata Motors rose 0.22% to Rs 296.05 on BSE. The stock hovered in the range of Rs 295.35 to Rs 297.20 so far.
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