The company’s consolidated revenues for the quarter stood at Rs 67,000 crore as against Rs 62,647 crore for the corresponding quarter last year, up 6.94% YoY.
15 Nov 2016 | 7509 Views | By Autocar Pro News Desk
Tata Motors’ consolidated Profit after tax for the quarter ended September 30, 2016, was Rs 848 crore, down 51.26% against the Rs 1,740 crore for the corresponding quarter last year.
Meanwhile, the company’s consolidated revenues for the quarter stood at Rs 67,000 crore as against Rs 62,647 crore for ...
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Tata Motors’ consolidated Profit after tax for the quarter ended September 30, 2016, was Rs 848 crore, down 51.26% against the Rs 1,740 crore for the corresponding quarter last year.
Meanwhile, the company’s consolidated revenues for the quarter stood at Rs 67,000 crore as against Rs 62,647 crore for the corresponding quarter last year, up 6.94% YoY.
The automaker has attributed the results to Jaguar Land Rover’s strong business sales across all regions and in standalone business demand pause in M&HCV partially offset by continued growth in the domestic LCV segment, car segment and exports.
For the half year ended September 30, 2016, the consolidated revenue was Rs 1,34,056 crore against Rs 1,24,157 crore for the corresponding period last year. Post the exceptional items, the consolidated Profit before and after tax (post profit / loss in respect of associate companies) for H1-FY2017 was Rs 3,551 crore and Rs 3,109 crore, respectively, as against Rs 4,824 crore and Rs 3,514 crore, respectively, for the corresponding period last year.
During the quarter, most of the segments of Tata Motors witnessed growth – LCV segment grew by 11.4% YoY, Passenger vehicles segment grew by 20.5% YoY with Car segment growth of 26.4% YoY on the back of continued strong response to the recently launched Tiago, Exports grew by 20.1% YoY. These were more than offset by de-growth of 16.5% YoY in the M&HCV segment
The revenues of the standalone business (including joint operations) for Q2-FY2017 stood at Rs 11,406 crore as compared to Rs 11,794 crore for the corresponding quarter last year. Operating profit (EBITDA) of the standalone business (including joint operations) for the quarter stood at Rs 376 crore with EBITDA margin at 3.6% (margin calculated on revenue net of excise duty). Loss before and after tax for the quarter ended September 30, 2016 for the standalone business (including joint operations) was Rs 609 crore and Rs 631 crore, respectively, against Loss before and after tax of Rs 272 crore and Rs 289 crore, respectively, for the corresponding quarter last year.
Total Retail sales including the China JV in the second quarter were 142,459 units, up 29.3%, primarily reflecting strong sales of the Discovery, Discovery Sport, Evoque, XE and the new F-PACE. Retail sales grew across all key regions with North America up 39%, UK up 28%, China up 49%, Europe up 31% and Overseas markets up 1%. Jaguar Land Rover wholesales and retail excluding the China JV for the quarter were 124,192 units and 128,967 units, up 11.7% and 22.7% respectively year on year. China JV wholesales and retails for the quarter were 15,043 units and 13,492 units, up 169% and 165%, respectively.
Revenues for the quarter ended September 30, 2016 were £5,953 million, compared to £4,831million for the corresponding quarter last year. Operating profit (EBITDA) for the quarter was £615 million, compared to £589 million for the corresponding quarter last year. The PAT was £244 million for the quarter ended September 30, 2016 compared to a loss after tax of £92 million in the corresponding quarter last year.
Tata Daewoo Commercial Vehicles registered net revenues of Rs 1,440 crore and recorded a net profit of Rs 48 crore in the quarter ended September 30, 2016. Net revenue and net profit for the half year ended September 30, 2016 stood at Rs 3,055 crore and Rs 127 crore respectively.