 "Tata Motors")
Tata Motors on Friday reported a consolidated net profit of Rs 5,407.79 crore in the quarter that ended March 31 as compared to a loss of Rs 1,032.84 crore in the same quarter in 2021-22. During FY23, the company's net profit was Rs 2,414.29 crore. In FY22, it had reported a loss of Rs 11,441.47 crore.
The company also declared a final dividend of Rs 2 per share.
"The year ended on a strong note with all automotive verticals delivering robust performances leading to multiple all-time high achievements. The distinct strategy employed by each business is delivering, in unison, leading to a sharp improvement in overall results. We remain confident on growth with cash flow generation, to achieve our stated goals," said PB Balaji, group chief financial officer at Tata Motors.
In Q4FY23 the revenue of Jaguar Land Rover (JLR) was up 49 per cent to 7.1 billion pounds. Its wholesale sale was up 24 per cent to 94,649 units in the quarter. In the full year, the wholesale units were 321,362, 9 per cent higher than in FY22.
The revenue from the sales of Tata's commercial vehicles was up 14.6 per cent to Rs 21,200 crore. Its EBITDA was at 10.1 per cent.
"With compliance to BSVI phase II emission norms mandatory from April 2023, we have used the opportunity to also enhance key attributes of our entire portfolio significantly. Our commercial vehicles now deliver enhanced performance enabled by smarter technologies and richer features," said Girish Wagh, executive director at Tata Motors.
For Tata's passenger vehicles, the revenue was up 15.3 per cent to Rs 12,100 crore. The EBITDA margin was at 7.3 per cent.
"Tata Motors recorded its third successive year of industry-beating growth to register its highest ever-annual domestic sales and achieving a robust 46 per cent sales growth over FY22," said Shailesh Chandra, managing director at Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility.
