Tata Motors' consolidated profit drops, standalone loss widens in Q4

Tata Motors today reported consolidated revenues (net of excise) of Rs 67,576 crore for the quarter ended March 31, 2015, a growth of 3.5 percent over Rs 65,317crore for the corresponding quarter last year, due to increase in wholesale volumes and  richer product mix both in the standalone business and Jaguar Land Rover (JLR).

The consolidated profit before tax for the quarter stood at Rs 2,771 crore, against Rs 5,053 crore for the corresponding quarter last year, decreased due to higher depreciation and amortization and adverse mark to market of unmatured hedges not eligible for hedge accounting. The Consolidated Profit after tax (post minority interest and profit / loss in respect of associate companies) for the quarter stood at Rs1,717 crore, against Rs 3,918 crore for the corresponding quarter last year.

The consolidated revenue (net of excise) for the year ended March 31, 2015, was Rs 262,796 crore, a growth of 12.9 percent over Rs 232,834crore for the corresponding period last year. The consolidated profit before tax for the year ended March 31, 2015 stood at Rs 21,703 crore, against Rs 18,869 crore for the corresponding period last year. The Consolidated Profit after tax (post minority interest and profit / loss in respect of associate companies) for the year ended March 31, 2015 stood at Rs 13,986 crore, against Rs 13,991 crore for the corresponding period last year.

In the M&HCV segment, improved freight availability and improved profitability of truck operators, fleet replacement demand mainly in the high tonnage segment, supported the company's sales growth in this segment of 26.4 percent Y-o-Y in Q4 FY 2014-15.

In passenger vehicles, the Zest and the newly launched Bolt helped the passenger vehicles segment grow 19.1 percent Y-o-Y in Q4 FY 2014-15 with car segment growth of 33 percent Y-o-Y in Q4.The company expects to continue its volume growth with the full year of the Zest and Bolt, the just- launched new GenX Nano and other new products that will be launched under the company's Horizonext strategy.

The sales (including exports) of commercial and passenger vehicles for the quarter ended March 31, 2015, stood at 139,053 units, up by 5.1 percent as compared to the corresponding quarter last year. The revenues (net of excise) for the quarter ended March 31, 2015 stood at Rs 10,784 crore, an increase of 26.2 percent, as compared to Rs 8,545 crore for the corresponding quarter last year. EBITDA for the quarter stood at Rs. 299 crore, with a margin of 2.8 percent against the negative EBITDA of Rs 528 crore and negative margin of 6.2percent for the corresponding quarter last year.  Loss before and after tax for the quarter ended March 31, 2015 was Rs1,156 crore and Rs.1,164 crore, respectively, against Rs1,417 crore and Rs817 crore, respectively, for the corresponding quarter last year.

The revenues (net of excise) for the year ended March 31, 2015, stood at Rs 36,295 crore, as compared to Rs 34,288 crore in the corresponding period last year, an increase of 5.9 percent. Loss before and after tax for year ended March 31, 2015 was Rs 3,975 crore and Rs 4,739 crore, respectively, against the loss before tax of Rs.1,026 crore and profit after tax of Rs.335 crore, respectively, for the corresponding period last year.