Tata Motors on Friday announced 48.7 per cent decline in consolidated net profit at Rs2,768.91 crore for the first quarter ended June 30, mainly due to dip in sales of its British-arm Jaguar land Rover (JlR).The company had reported a consolidated net profit of Rs5,398.21 crore in the same quarter of previous fiscal.
Consolidated net sales during the period under review stood at Rs60,180.57 crore as against Rs64,150.74 crore in the year-ago period, down 6.18 per cent, the company said in a filing to the BSE.JlR’s revenue stood at Rs49,178.5 crore during the first quarter as against Rs54,425.97 crore in the year-ago period, down 9.64 per cent.
The company said JlR’s financial performance in the quarter under review was lower than the strong corresponding quarter last year due to softer sales in China but was partially offset by strong performance in the UK, Europe and North America.Tata Motors sales, including exports, of commercial and passenger vehicles for the quarter stood at 1,17,439 units, up 6.2 per cent, as compared to the corresponding quarter last fiscal.
On a standalone basis, Tata Motors net profit for the June quarter stood at Rs257.57 crore, down 34.56 per cent from Rs393.65 crore in the year-ago period.Standalone net sales were at Rs9,197.62 crore as against Rs7,612.89 crore in the previous fiscal, it added.Tata Motors shares today ended at Rs392.55 apiece on the BSE, up 2.52 per cent from the previous close.