Tata Motors Reports Three-Fold Rise in Q2 to Rs 2483 Crore

10 November, 2017, 02:01 | Author: Becky Perry
  • Rover plant. JLR sales in the developed markets have been soft lately which hurts more because these markets are more profitable

Tata Motors has reported a 195 per cent rise in consolidated net profit at Rs 2,502 crore for the September quarter of 2017-18, against Rs 848 crore in the year-ago period, aided by a one-time excise gain of around Rs 535 crore, cost-reduction at the planning and strategic levels and better margins and volumes at its United Kingdom unit Jaguar Land Rover (JLR). The second-quarter retail sales at JLR grew 5% to 1.49 lakh units, with its top market China clocking an increase of 27%. A 5.1% increase in sales in the US, its second-largest market, helped offset the weakness in the United Kingdom and elsewhere in Europe, Tata Motors said.

In the next quarter, JLR's new Jaguar E-Pace, plug-in hybrid Range Rover and Range Rover Sport will all be rolled out.

Second-quarter losses at Tata Motors' domestic business narrowed to Rs2.95bn from Rs6.31bn a year ago, helped by a 30% jump in revenues. "The auto industry is faced with several challenges, and I hope they have got a robust product pipeline both in the commercial vehicles and passenger vehicles segment to stimulate demand".

Income from operations for the quarter rose about 9 per cent to 701.56 billion rupees. Sales of passenger vehicles grew by 14.4%. "With our turnaround plan in full action, we are seeing encouraging results and we will continue to drive sustainable profitable growth to meet our future aspirations".

Apple sued over dual-camera tech in iPhone 7 Plus, 8 Plus
An Israeli startup has filed suit against Apple, accusing the tech giant of using its dual-camera technology without permission. That is actually more or less common knowledge but it's a different matter if Apple openly makes such a boast.


"Although we are facing headwinds and uncertainty in some markets, Jaguar Land Rover is well positioned to deliver further global expansion".

As part of the company's ongoing product offensive, manufacturing expansion and new technology programme, Jaguar Land Rover's investment spending was more than £1 billion in the second quarter. The company said it plans to spend 4 billion pounds in JLR this fiscal year to boost capacity and launch new products.

Dr Speth concluded: "Our product portfolio continues to excite and surprise". The revenues (net of excise) for Q2FY18 stood at Rs 13,400 crore, as compared to Rs 10,311 crore for the corresponding quarter a year ago, a growth of 30%.

Recommended:

  • Apple's Newest iPhone Update Finally Fixes That Annoying Autocorrect Bug

    Apple's Newest iPhone Update Finally Fixes That Annoying Autocorrect Bug

    What are your thoughts on Apple releasing the new iOS 11 .1.1 update for users affected with keyboard autocorrect issue? With the release of the update , that workaround should no longer be necessary.
    Kentucky doctor pleads not guilty to assault of Sen. Rand Paul

    Kentucky doctor pleads not guilty to assault of Sen. Rand Paul

    Rene Boucher pleaded not guilty Thursday to charges of assaulting his longtime neighbor while Paul was mowing his lawn last week. Boucher's lawyer said Monday that the attack was "a very regrettable dispute" that was "trivial".
    Woman claims Roy Moore initiated sexual encounter with her; she was 14

    Woman claims Roy Moore initiated sexual encounter with her; she was 14

    Leigh Corfman, now 53 years old, says she first met Moore when he offered to watch her during her mom's child custody hearing. In addition to Corfman, three other women told the Post Moore "pursued them when they were between the ages of 16 and 18".
  • Portia de Rossi claims Steven Seagal sexually harassed her

    Portia de Rossi claims Steven Seagal sexually harassed her

    Judging from what her agent said , it was likely the incident happened before 2005, which is when de Rossi came out as gay. Portia de Rossi opened up about her sexual harassment encounter with Steven Seagal . "I said, 'isn't that illegal?"
    NCAAB: LiAngelo Ball out on bail

    NCAAB: LiAngelo Ball out on bail

    Hua Chunying, a spokeswoman for China's Foreign Ministry, said the case had been reported to United States authorities. Three UCLA basketball players can not leave their Chinese hotel after being arrested for allegedly shoplifting.
    First look at Jodie Whittaker's Doctor Who is here

    First look at Jodie Whittaker's Doctor Who is here

    The suspenders , which some are vocal about hating, is obviously a callback to Matt Smith's Eleventh Doctor. Silliness has, more often than not, been the name of the game for this Gallifreyan.
  • Kentucky posts its highest-ever NCAA graduation rate

    Kentucky posts its highest-ever NCAA graduation rate

    At 88 percent, Georgia Tech's GSR surpasses the Division I average of 87 percent, which is also an all-time record. The Hokies' 86 percent GSR in football ranked fifth in the ACC and first among public universities in the league.
    Suarez reveals why Coutinho want to leave Liverpool

    Suarez reveals why Coutinho want to leave Liverpool

    Barcelona made several attempts to land him in August, with bids in the region of £100 million made, but they were knocked back. Suarez during his Liverpool days. " He is a footballer, who today, plays at a very high level ", he said.
    The Stranger Things Kids Form the Ultimate Motown Group with James Corden

    The Stranger Things Kids Form the Ultimate Motown Group with James Corden

    In his tweets, he also referred to criticism that stars of the show receive online. Finn spoke to TMZ about the incident, saying: 'Oh that was nuts.
  • Places around Madison for Veterans Day discounts

    Places around Madison for Veterans Day discounts

    TOMS: Verified members of the armed services can get 15% off regular-priced purchases at TOMS , now through November 15. Starbucks will be offering any veteran, active duty military and military spouse a free tall coffee on November 11th.
    GST on over 200 items may be reduced today

    GST on over 200 items may be reduced today

    The meetings have resulted in an array of changes to ease compliance burden on businesses as well as provided relief to consumers. In an interview to PTI, Revenue Secretary said: "There is a complete overhauling that is required".
    Patriots bring back Martellus Bennett

    Patriots bring back Martellus Bennett

    Bennett had been waived by the Green Bay Packers on Wednesday, bringing his short tenure at Lambeau Field to a surprising end. Bennett was waived by the Green Bay Packers on Wednesday with a failure to disclose a medical condition designation.


Popular

That naked auto crash in Edmonton was actually a kidnapping
A police statement said: 'The RCMP believe that this was a targeted incident and that all parties were known to each other'. When authorities responded to a auto accident on Monday in Alberta, Canada , they found a carload of naked people.

Odd-Even formula in Delhi from Nov 13 to 17 to curb pollution
According to the policy, private vehicles are allowed to run based on the last number of their licence plates. Like previous year , cars driven by women, CNG-run cars and two-wheelers would be exempt from the scheme.

National Football League expects Goodell contract extension to be finalized soon
It's hard to feel bad for Roger Goodell , a man that has made more than $200 million as National Football League commissioner. Thanks to that, it is another week of more reports stating there's a rift between Jerry Jones and Roger Goodell .

Terry Crews Files Charges Against Hollywood Exec Who Groped Him
While many in Hollywood are coming forward with stories of sexual harassment and assault, few have pressed charges. The Brooklyn Nine-Nine actor elaborated further in his tweet about why he waited so long to speak on the incident.

Twitter Character Count Doubles Across the Globe
Only five percent of users went above 140 characters during the test, and only 2 percent ever went north of 190 characters. During the third quarter, Twitter averaged 330 million monthly users, up just 1 percent from the previous quarter.

Labor senator suffers verbal assault, says racism is getting worse in Australia
Dastyari says he is consulting with his family before deciding whether to lodge a formal complaint against his abusers. One of the men appears to wear a work uniform for Toll, an Australian logistics company.

Pyne refuses to budge on Manus refugees
He warned that "appropriate means" would be used to "apprehend individuals who are causing unnecessary anxiety and violence". Despite the warning, several of the asylum seekers said on social media that they still would not leave the site.

Christopher Plummer replaces Spacey in Ridley Scott film
Spacey, who was 26 at the time , said: "I honestly do not remember the encounter, it would have been over 30 years ago". Unruh held a press conference, explaining her son was 18 years old when Spacey allegedly his genitals.

Facebook Wants Your Nude Photos (for a Good Cause)
The dominant social media platform is trying to help combat revenge porn from ever making it online. Facebook is testing out a pilot program in Australia to prevent revenge porn .

EU Commission downgrades United Kingdom growth for 2019 Brexit year to 1.1%
Members of the common-currency are seen with an average deficit of 1.1% of GDP in 2017, down from 1.4% in the earlier forecast. For the next two years, the Commission forecasts decrease in employment growth to 0.4% and 0.3% due to limited labour supply.