Tata Motors lost 6.19% to Rs 290.10 at 09:35 IST on BSE after consolidated net profit dropped 49.84% to Rs 2175.16 crore on 18.33% rise in total income to Rs 91644.49 crore in Q4 March 2018 over Q4 March 2017.
The result was announced after market hours yesterday, 23 May 2018.Meanwhile, the S&P BSE Sensex was up 87.85 points, or 0.26% to 34,432.76.
On the BSE, 7.20 lakh shares were traded in the counter so far compared with average daily volumes of 9.05 lakh shares in the past two weeks. The stock had hit a low of Rs 284.70 so far during the day, also its 52-week low. The stock had hit a high of Rs 307.60 so far during the day. The stock hit a 52-week high of Rs 487 on 26 May 2017.
Natarajan Chandrasekaran, Chairman said that JLR delivered profitable growth despite challenging market conditions. The company invested for growth, launched new products and established landmark partnerships. In the domestic business, the company has gained market share in both CV and PV with strong improvement in profitability and positive cash flows.
Tata Motors' subsidiary Jaguar Land Rover (JLR) is the UK's largest automotive manufacturer, built around two iconic British car brands: Land Rover, the world's leading manufacturer of premium all wheel-drive vehicles; and Jaguar, one of the world's premier luxury sports saloon and sports car marques.
Closing net debt was Rs 39977 crore compared to Rs 27485 crore as at 31 March 2017, reflecting negative free cash flow at JLR with continued high investments and lower sales growth. Net Automotive debt rose to Rs 13,889 crore from 7401 crore as at 31 March 2017.
Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence vehicles.
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