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Journalism of Courage
Driven by a strong demand at its British arm Jaguar Land Rover, Tata Motors, India’s biggest automaker by revenue, saw third-quarter consolidated net profits jump by 195 per cent to their highest in a year-and-a-half to Rs 4,804.80 crore as against Rs 1,627.5 crore in the same period of the previous financial year.
Although its sales volume in the domestic market dipped, net sales climbed 38.6 per cent to Rs 63,536.06 crore from Rs 45,821.31 crore.
JLR’s profit after tax during the period surged to £619 million from £296 million in the year-ago period. Revenue advanced 40 per cent to £5,328 million from £3,804 million. Wholesale sales volumes for JLR were up 22.7 per cent at 1,16,357 units, driven by models such as the Range Rover Sport, the new Range Rover and the Jaguar F-Type and the new XF and XJ variants.
On a standalone basis, Tata Motors posted a net profit of Rs 1,251.40 crore as compared to a net loss of Rs 458.49 crore in the year-ago period.
