Homegrown auto major Tata Motors on Thursday reported a consolidated net loss of Rs 3,679.66 crore for the first quarter ended June 30. The company had posted a net loss of Rs 1,862.57 crore in the year-ago quarter, Tata Motors said in a regulatory filing.
Total revenue during the period under review stood at Rs 61,466.99 crore as against Rs 66,701.05 crore in the corresponding period last fiscal.
Total vehicle sales of Tata Motors group for the quarter were at 1,36,705 units, down 22.7 per cent compared to the same period last fiscal, the company said.
British arm Jaguar Land Rover (JLR) reported a pre-tax loss of 395 million pounds as compared to 264 million pound loss in the same period a year ago. On a standalone basis, Tata Motors said its net loss for the quarter was at Rs 97.10 crore as against a net profit of Rs 1,187.65 crore in the year-ago period.
Ambuja Cement Q2 net profit rises 21% to Rs 832 crore
Ambuja Cement Ltd on Thursday reported a 21.51 per cent increase in its consolidated net profit to Rs 831.75 crore for the second quarter ended June 30, helped by higher realisations and cost saving.
Part of the Swiss cement giant LafargeHolcim, the company had clocked a net profit of Rs 684.46 crore in April-June quarter a year ago, Ambuja Cement said in a BSE filing.
Its net sales during the period under review rose 3.41 per cent to Rs 7,068.79 crore as against Rs 6,835.12 crore in the same quarter previous fiscal. The company follows January-December financial year.
“Ambuja delivers a strong performance in the quarter backed by higher realisations and accelerated cost saving actions. Despite higher fuel costs, the company did well by optimising logistics costs, reducing raw material and fixed costs,” Ambuja Cement MD and CEO Bimlendra Jha said. However, the cement demand growth was muted during the quarter, he added.
During the quarter, consolidated sales volume was down 4.33 per cent to 13.02 million tonnes as against 13.61 million tonnes. The company’s total expenses stood at Rs 5,903.93 crore compared to Rs 5,873.80 crore, up by 0.51 per cent.
Ambuja Cement’s consolidated figure also includes the result of its subsidiary ACC Ltd, which had posted a net sales of Rs 4,059 crore during the April-June quarter. On standalone basis, Ambuja Cement’s net profit during the quarter was at Rs 412.05 crore and net sales of Rs 2,978.27 crore.
For the first half (January-June) of the year, Ambuja Cement’s consolidated profit was up 27.38 per cent to Rs 1,527.05 crore over Rs 1,198.80 crore in the corresponding period last year.
Bajaj Finance reports highest-ever quarterly net profit
Bajaj Finance on Thursday reported its highest-ever quarterly consolidated net profit to Rs 1,195 crore during the first quarter ended June 30, up by 43 per cent from the year-ago period. The company had posted a net profit of Rs 836 crore in the corresponding quarter of 2018-19.
Its total income (consolidated) rose 47 per cent to Rs 5,808 crore during the June quarter of 2019-20, against Rs 3,938 crore a year ago, Bajaj Finance Ltd (BFL) said in a release. On a standalone basis, the net profit in the quarter increased 35 per cent to Rs 1,125 crore, from Rs 834 crore in the year-ago quarter. Income jumped 40 per cent to Rs 5,305 crore as against Rs 3,792 crore. The net interest income grew 43 per cent to Rs 3,695 crore, compared with Rs 2,579 crore a year ago.