Tata Motors on Thursday announced a 25.47 per cent decline in its consolidated net profit at Rs3,580.72 crore for the third quarter ended December 31, 2014, pulled down by its Indian operations. The auto major had posted consolidated net profit of Rs4,804.8 crore in the same quarter last fiscal.
Consolidated net sales during the third quarter increased by 8.83 per cent to Rs 69,121.61 crore, as against Rs63,512.51 crore in the year-ago period, Tata Motors said in a filing to the BSE. Revenue from the company’s British unit, Jaguar land Rover went up by 8.64 per cent at Rs58,549.97 crore as against Rs53,892.52 crore in the corresponding quarter last year, it added.
On the other hand, revenue from Tata and other brand vehicles and financing during the quarter were at Rs11,158.87 as against Rs9,741.37 crore in the same period last fiscal, up 14.55 per cent. On a standalone basis, Tata Motors’ posted a net loss of Rs2,122.72 crore against a profit of Rs1,251.4 crore in the same period a year ago.
Standalone net sales increased by 16.58 per cent to Rs8,943.57 crore as against Rs7,671.40 crore in the same period last fiscal. The company’s standalone sales in volume terms were at 1,27,484 units during the quarter as against 1,32,087 units in the year-ago period, down 3.48 per cent. Tata Motors shares closed at Rs 589.55, down 0.39 per cent from previous close on BSE.