JLR helps Tata Motors post Rs650-crore profit in 3Q 2009
02 Mar 2010
After posting 5 consecutive quarterly losses, Jaguar Land Rover (JLR), a Tata Group entity since 2008, made an astounding recovery in the UK, posting a net profit of Rs416.96 crore and helped its parent Tata Motors to report a consolidated profit of Rs650.26-crore in the third quarter ending 31 December 2009.
Tata Motors third quarter profit of Rs650.26-crore was against a whopping loss of Rs2,598.83 crore for the same period in 2008-09.
Mumbai-based Tata Motors said its revenue grew 47 per cent to Rs26,774 crore in the third quarter against Rs18,247 in the year-ago period.
Total consolidated income of the carmaker was Rs26,044.25 crore against Rs17,703.32 crore, a growth of 46.7 per cent.
The company said the introduction of new products and strong continued growth in the existing portfolio along with government stimulus, a benign liquidity environment and overall economic recovery have driven Indian operations demand revival during the current year.
Tata Motors' sales volume for the quarter, including exports, stood at 165,413 vehicles - a growth of 67.5 per cent over sales of 98,760 vehicles in Q3 2008-09, which witnessed steep decline in volumes impacted by the financial crisis.