JLR boost for Tata Motors, net profit up by 195 percent to Rs 4,805 crore

Tata Motors has reported consolidated revenues (net of excise) of Rs 63,877 crore for the quarter ended December 31, 2013, a growth of 38.6 percent over Rs 46,090 crore for the corresponding quarter of the previous year, on the back of strong demand, growth in volumes and favourable product mix and geographic mix at Jaguar Land Rover (JLR).

The consolidated PBT for Q3 was Rs 6,128 crore, over Rs 2,668 crore for the corresponding quarter of the previous year. The consolidated PAT (post minority interest and profit / loss in respect of associate companies) for the quarter was Rs 4,805 crore, over Rs 1,628 crore for the corresponding quarter of 2012.

The consolidated revenue (net of excise) for April-December 2013 was Rs 167,544 crore, posting a growth of 26.1 percent over Rs 1,32,816 crore for the corresponding period last year. Consolidated PAT for the nine months ended December 31, 2013 was Rs 13,807 crore, up 54.5 percent over Rs 8,939 crore for the corresponding period last year. Consolidated PAT (post minority interest and profit / loss in respect of associate companies) for the nine months ended December 31, 2013, was Rs 10,073 crore, a growth of 69.4 percent as against Rs 5,947 crore for the corresponding period last year.

On a standalone basis, Tata Motors sales (including exports) of commercial and passenger vehicles for the quarter ended December 31, 2013, stood at 132,087 units, a decline of 35.7 percent as compared to the corresponding period last year. The revenues (net of excise) Q3 ended December 31, 2013, stood at Rs 7,770 crore, as compared to Rs 10,630 crore for Q3 in 2012.

The company said that a prolonged slowdown in economic activity, weak consumer sentiments, subdued infrastructure activity, a high interest rate and weak operating economics for transporters due to lower fleet utilisation and stagnant freight rates combined with fuel price increases, continued to impact the industry during the quarter.

The CV industry declined in the September-December 2013 quarter over the corresponding period last year, led by a fall of 31 percent in the cyclical M&HCV segment and around 27 percent in the LCV segment. However, value-added services and new launches in the M&HCV segment led to increase in market share by 2 percent in Q3 as compared to the corresponding quarter last year.

Profit / (Loss) before and after tax for the quarter ended December 31, 2013 was Rs 621 crore and Rs 1,251 crore, respectively, against the Profit / (Loss) before and after tax of Rs (601) crores and Rs (458) crore, respectively, for the corresponding quarter last year.

Tata Motors is in the process of divesting its investments in certain foreign subsidiary companies to TML Holdings Pte Ltd, Singapore, a wholly owned subsidiary. Consequently, the profit before tax for the quarter ended December 31, 2013 includes profit of Rs 1,948 crore on such divestment.

The revenues (net of excise) for the nine months ended December 31, 2013, were Rs 25,743 crore as compared to Rs 33,698 crore in the corresponding period last year. Profit before and after tax for nine months ended December 31, 2013, was Rs 391 crore and Rs 1,151 crore, respectively, against Rs 660 crore and Rs 614 crore, respectively for the corresponding period last year.

Photograph: Jaguar Land Rover at the Auto Expo 2014 in Noida.