The company said the growth in revenue was on the back of strong demand, growth in volumes and favourable market mix at Jaguar Land Rover
Tata Motors on Thursday reported a 52.2% decline in consolidated net profit for the third quarter ended December 2012 at Rs1,636.01 crore compared to Rs3,422.7 crore in the same period last fiscal, Tata Motors said in a filing to the BSE. The company attributed the slump to weak demand.
Consolidated total income from operations stood at Rs46,089.5 crore during the third quarter as against Rs45,260.25 crore in the same period last fiscal.
The company said the growth in revenue was on the back of strong demand, growth in volumes and favourable market mix at Jaguar Land Rover (JLR).
On a standalone basis, the company had a net loss of Rs458.49 crore in the third quarter ended 31 December 2012 as against a net profit of Rs173.67 crore in the same period last fiscal.
Standalone total income from operations during the period under review stood at Rs10,630.09 crore as against Rs13,337.9 crore in the year-ago period.
During the third quarter, Tata Motors sold a total of 2,05,291 vehicles as against 2,31,328 units in the same period last fiscal.
JLR wholesales for the December quarter grew 9.9% over corresponding period last year to 94,828 units, Tata Motors said.
While Jaguar volumes for the period stood at 15,043 units, Land Rover volumes were at 79,785 units. Growth in volumes is driven by continued strong demand from China and sales of Range Rover Evoque and Freelander.
JLR revenues for the quarter were at 3,804 million pounds, up 1.5% from the corresponding quarter last year. Profit after tax for the quarter was at 296 million pounds as against 393 million pounds in the corresponding quarter last year, it added.
In the domestic market, commercial vehicles sales for the quarter ended 31 December 2012, stood at 1,38,963 units, driven by the LCV segment and passenger vehicles sales stood at 54,675 units.
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