Tata Motors Back in Black with Net Profit of Rs 3,043 Crore in Q3

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Edited By: Mohammad Haris

Last Updated: January 25, 2023, 18:17 IST

Tata Motors had reported a net loss of Rs 1,451 crore in the October-December quarter of the previous fiscal. (Photo: IANS)

Tata Motors had reported a net loss of Rs 1,451 crore in the October-December quarter of the previous fiscal. (Photo: IANS)

Tata Motors’ Q3 total income increases to Rs 88,489 crore, from Rs 72,229 crore in the year-ago period

Tata Motors on Wednesday reported a consolidated net profit of Rs 3,043 crore in the October-December 2022 quarter, on account of robust sales across markets. The auto major had reported a net loss of Rs 1,451 crore in the third quarter ended December 31.

Total income increased to Rs 88,489 crore in the period under review from Rs 72,229 crore in the year-ago period, Tata Motors said in a regulatory filing. On a standalone basis, Tata Motors reported a net profit of Rs 506 crore in the third quarter, a jump of over two-fold, from Rs 176 crore in the October-December period of 2021-22.

Jaguar Land Rover revenues stood at 6 billion pounds, up 28 per cent as compared with the same period last year, reflecting better supplies, strong model mix and pricing, Tata Motors said.

Profit before tax in the third quarter stood at 265 million pounds, against a loss of 9 million pounds a year ago, it added.

JLR’s wholesales stood at 80,000, up 6 per cent QoQ and 15 per cent YoY, the highest quarterly volume since Q1 FY22. Retails up 6 per cent YoY but down QoQ by 4 per cent, reflecting timing between retails and wholesales

The company’s new Range Rover & Range Rover Sport production continues to ramp up with 27,456 units wholesaled in the quarter, up from 13,537 in Q2. Its order book grows further to 215,000 units.

Shares of the company on Wednesday ended 0.73 per cent down at Rs 419 apiece on the BSE.

(With Inputs From PTI)

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