Tata Motors Q2 profit up 71 pct at Rs 3,542 cr,logs 30 pct jump in sales to Rs 55,701 cr

Tata Motors net sales for the period under review stood at Rs 55,701.22 crore as against Rs 42,818.90 crore in July-September period of 2012-13,up 30.08 per cent.

On a standalone basis,Tata Motors posted a net loss of Rs 803.53 crore as compared to a net profit of Rs 867.11 crore in the same period of previous fiscal.

Tata Motors’ net sales also declined to Rs 8,761.10 crore as against Rs 12,396.46 crore during the same period of previous financial year.

In terms of unit volumes,the company said its sales stood at 1,50,930 units on a standalone basis as against 2,23,665 units in the year-ago quarter,down 32.51 per cent.

Shares of Tata Motors today closed at Rs 385 apiece on the BSE,up 1.29 per cent from the previous close.

Tata Motors Q2 profit jumps 71 per cent to Rs 35.42 bn

(Reuters) Tata Motors Ltd,India’s biggest automaker by revenue,beat analyst estimates by posting a 71 per cent jump in profit,its first quarterly gain in a year,as buoyant sales at luxury unit Jaguar Land Rover Ltd received a lift from new models.

Tata Motors,part of the $100 billion Tata conglomerate,has become dependent on its UK unit to prop up profits. At home,passenger and commercial vehicle sales have suffered from an environment of high interest rates and fuel prices in an economy growing at its slowest pace in a decade.

Net profit was 35.42 billion rupees ($566 million) for the fiscal second quarter ended Sept. 30 compared with 20.75 billion rupees a year earlier,Tata Motors said in a statement on Friday.

Net sales rose 30 percent to 557.01 billion rupees.

The mean estimate of 10 analysts was a profit of 25.49 billion rupees and revenue of 539.8 billion rupees,according to Thomson Reuters I/B/E/S.

Shares of Tata,worth $18.23 billion,closed up 1.1 percent before the earnings release whereas the benchmark index ended down 0.8 percent.