May 29, 2012: Tata Motors has announced robust growth in its financial performance for Q4 and the entire fiscal 2011-12, propelled mainly by Jaguar Land Rover. The company posted a consolidated profit (after tax and post minority interest and profit in respect of associate companies) of Rs 6,234 crore during Q4 of fiscal year 2011-12.
That is a 136 percent increase over the previous year’s corresponding quarter. Consolidated revenue (net of excise) during the quarter stood at Rs 50,908 crore, a 44 percent growth over Q4 of 2010-11. For the entire year, the company’s consolidated profit stood at Rs 13,517 crore, a 46 percent growth over the corresponding period of the previous year.
The driver of the company’s strong performance was Jaguar Land Rover (JLR), which posted net profit of 696 million pounds sterling (Rs 6,038 crore), or a 166 percent growth over the corresponding quarter of the previous year. JLR’s net profit for 2011-12 stood at 1,481 million pounds (Rs 12,850 crore) as compared to 1,036 million pounds (Rs 8,988 crore) during the previous year. JLR posted record sales of 314,433 units globally in 2011-12, buoyed by strong demand in China and other developing markets. JLR says China is set to emerge as its second largest market during 2012-13. Tata Motors has lined up a capex of two billion pounds (Rs 17,352 crore) for JLR in 2012-13.
Meanwhile, Cyrus P Mistry, deputy chairman of Tata Sons, has been inducted to the Board of Tata Motors as a director.