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Journalism of Courage
India’s largest automobile firm Tata Motors on Tuesday announced a 53 per cent jump in its net profit at Rs 1,236 crore and improved its sales by 32 per cent to Rs 17,419 crore for the 2004-05 fiscal.
The company, however, issued a warning that its commcercial vehicle sales will not keep up the momentum seen in the last fiscal. Only four years ago, Tata Motors had recorded a loss of Rs 52 crore.
Tata Motors, Director, Finance, Pravin Kadle said during the fiscal, despite its raw material costs shooting up, domestic commercial vehcile sales rose 25 per cent to 1,89,993 units while it passenger car sales surged 28 per cent to 179,076 units.
The board has recommended a dividend of Rs 12.50 per share (including Rs 2.50 as a special dividend) of Rs 10 each for the 2004-05 fiscal.
The company has posted a net profit of Rs 388.17 crore for the quarter ended March 31, 2005 against Rs 292.47 crore for the quarter ended March 31, 2004, he said.
