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Tata Motors Q2 net falls 7% YoY to Rs 3291 cr

Tata Motors second-quarter earnings came in weak, with the company clocking consolidated net profit of Rs 3,291 crore, down 7 percent from the year-ago figure of Rs 3,542 crore.

The News International Team

Tata Motors  second-quarter earnings came in weak, with the company clocking consolidated net profit of Rs 3,291 crore, down 7 percent from the year-ago figure of Rs 3,542 crore.

The company fared well on the sales front, though, with consolidated revenue climbing to Rs 60,564 crore (up 6.5 percent year-on-year compared to year-ago figure of Rs 56,867 crore).

A CNBC-TV18 poll expected the firm to post net profit of Rs 4,457 crore on revenues of Rs 56,882 crore.

Earnings, however, were decent on the operational front, with consolidated profit before tax rising 19.2 percent year-on-year to Rs 5,671 crore.

Tata Motors’ overseas subsidiary JLR notched up net profit of 450 million pounds, down from 507 million pounds in the previous quarter. Revenues for JLR rose 4.2 percent to 4,808 million pounds. The company attributed the fall in profits to an “unfavourable revaluation of foreign currency debt and unrealized hedges and higher depreciation and amortization”.

While the local business continued to bleed, with Tata Motors standalone numbers showing up a quarterly loss of Rs 1,107 crore on revenues of Rs 8,750 crore.

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