While Tata Motors' domestic sales remain lacklustre during the June quarter, Jaguar Land Rover sales grew 34.4% to 83,452 units
Mumbai: Riding on good performance from Jaguar Land Rover (JLR), Tata Motors on Thursday reported 12.3% increase in net profits for the first quarter ended June 2012 at Rs2,244.91 crore, reports PTI.
The company had posted net profit of Rs1,999.62 crore in the same period a year ago, Tata Motors said in a statement.
Its total sales during the first quarter stood at Rs44,176.85 crore as against Rs34,060.59 crore in the same quarter last fiscal, up 29.7%, it added.
Revenues of Jaguar Land Rover for the quarter ended June 2012 stood at 3,638 million pounds, a growth of 34.6% over 2,703 million pounds in the corresponding quarter last year, Tata Motors said.
Tata Motors' sales (including exports) of commercial and passenger vehicles for the quarter stood at 1.90 lakh units, down 3.6%, as compared to the corresponding period last year.
In the domestic market, the company's commercial vehicles sales for the period under review stood at 1.14 lakh units, a growth of 1.3% over the corresponding period last year.
Passenger vehicles sales in the domestic market, including Fiat and Jaguar and Land Rover vehicles distributed in India, stood at 62,619 units for the quarter ended June 2012, a decrease of 9.9% over the corresponding period last year, it added.
Jaguar Land Rover sales' during the quarter grew 34.4% to 83,452 units. Of this, the Jaguar volumes for the period stood at 11,774 units and Land Rover volumes at 71,678 units, the company said.
"Growth in volumes was driven by sales of the new Range Rover Evoque and strong demand from China, which grew 91% year-on-year," it added.
Sales from the China region comprised 22.2% of total volumes for the quarter ended June 30, 2012, as against 15.7% for the corresponding period last year, it said.
Tata Motors shares closed marginally down at Rs239 per share on BSE, while the benchmark Sensex also ended flat at 17,560.