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Tata Motors sales up 9% to Rs 69973cr on JLR; profit misses

The News International Team

Tata Motors  today reported consolidated revenues of Rs.69,973 crore for the quarter ended December 31, 2014, a growth of 9.6 percent over Rs.63,853 crore for the corresponding quarter last year. A CNBC-TV18 poll of analysts had expected this to come in at Rs 66,110 crore.

Consolidated net profit for the quarter was Rs 3,581 crore, a de-growth of 25.5 percent over Rs.4,805 crore for the corresponding quarter last year. Analysts, on average, had forecast net profit at Rs 4,846 crore.

Tata Motors said the results were “despite continuing weak operating environment in the standalone business, which was offset by increase in wholesale volumes, richer product mix and market mix at Jaguar Land Rover (JLR).”

For the standalone local business, revenues stood at Rs 9,056 crore, as compared to Rs 7,770 crore for the corresponding quarter last year. Loss for the quarter was Rs 2,123 crore against profit of Rs 1,251 crore.

JLR revenues for the quarter ended December 31, 2014 of GBP 5,879 million, represented a growth of 10.3 percent over GBP 5,328 million in the corresponding quarter last year.

Operating profit (EBITDA) for the quarter ended December 31, 2014, stood at 18.6 percent, of GBP 1,096 million, representing a growth of 7.8% over GBP 1,017 million in the corresponding quarter last year.

Profit after tax for the quarter ended December 31, 2014 stood at GBP 593 million (GBP 619 million in the corresponding quarter last year).

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