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

10 November, 2017, 02:01 | Author: Becky Perry
  • During the September quarter Tata Motors share price fell 7.23% to Rs401.25 on the Bombay Stock Exchange

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".

Twitter puts verification on hold after Charlottesville organizer gets blue check
Who do you value more, users like me or him? However, some far-right and white-supremacist accounts have now also been verified. Kessler's verification spawned an uproar among Twitter users, as it was seen as the company's endorsement of Kessler's beliefs.


"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:



Popular

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.

Top SmackDown Stars Sent Home From European Tour
A story broke earlier today that Kevin Owens and Sami Zayn were sent home from WWE 's Europen tour for disciplinarian reasons . The incident came when Owens and Zayn did do what they were told to do following Zayn's singles match against Kofi Kingston .

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.

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 .

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
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".

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.

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.

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.

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.