Friday, Oct 31, 2014

Tata Motors Q4 profit declines marginally to Rs 3,918 crore

Press Trust of India | Mumbai | Posted: May 29, 2014 7:56 pm

Tata Motors Ltd today registered a marginal decline in consolidated net profit to Rs 3,918.29 crore in the fourth quarter ended March 31.

The auto major had posted a profit of Rs 3,945.47 crore in the same period a year earlier.

Net sales rose to Rs 64,715.81 crore from Rs 55,841.70 crore, Tata Motors said in a filing to the BSE.

The company said it posted growth in sales “despite a weak operating and economic environment in the standalone business, which was more than offset by strong demand for new products, growth in volumes, richer product mix and richer geographic mix at Jaguar Land Rover (JLR).”

For the year ended March 31, Tata Motors posted a consolidated net profit of Rs 13,991.02 crore, up 41.42 per cent from Rs 9,892.61 crore in the previous fiscal.

Net sales rose to Rs 2,30,677.10 crore for the year ended March 31, as against Rs 1,87,627.90 crore.

On a standalone basis, Tata Motors said its net loss widened to Rs 816.61 crore in the fourth quarter from Rs 312.15 crore in the same period a year earlier.

Standalone revenue declined to Rs 8,545 crore from Rs 11,068 crore.

For the year ended March 31, the company posted a standalone net profit of Rs 334.52 crore, as compared to Rs 301.81 crore in the previous financial year. Revenue in FY14 declined to Rs 34,288 crore from Rs 44,766 crore.

The company sold 1,32,308 units of commercial and passenger vehicles, including exports, for the quarter ended March 31, down 33 per cent from the corresponding period last year.

“Sustained deceleration in economic growth, high inflation, higher fuel prices, reduced availability of finance, elevated interest rate regime, continued to impact the demand for the entire auto industry in general and commercial vehicle industry in specific,” the company said.

The company’s British unit, Jaguar Land Rover, on the other hand, posted growth of 5.9 per cent in revenue to GBP 5,349 million for the fourth quarter, as against GBP 5,053 million in the corresponding quarter a year earlier, it added.

JLR’s revenue for the year ended March 31, stood at GBP 19,386 million as compared to GBP 15,784 million in the previous year.

Tata Motors shares fell 1.18 per cent to Rs 423.80 at the close on the BSE.

 

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