Tata Motors consolidated Q2 net falls 15.55 per cent to Rs1,877 crore

Tata Motors today reported a 15.55 per cent decline in its consolidated after-tax profit for fiscal second quarter ended 30 September 2011, at Rs1,877 crore, against a PAT of Rs2,223 crore in the corresponding quarter of the previous year.

Consolidated revenues (net of excise), however, rose 26.9 per cent to Rs36,198 crore for the quarter ended 30 September 2011, from Rs28,519 crore in the corresponding quarter of the previous year, on the back of growth in volumes, improved product and market mix, the company said in a release.

Consolidated profit before exceptional items and tax for the quarter ended 30 September 2011 rose 13.1 per cent to Rs2,709 crore from Rs2,395 crore in the corresponding quarter of the previous year.

Consolidated profit before tax (PBT) for the quarter was down over 10 per cent at Rs2,270 crore, compared with Rs2,523 crore during the corresponding quarter of the previous year. This, the company attributed to a swing of Rs566 crore in the quarter on account of exceptional item (a loss of`Rs439 crore in Q2 FY12 vs a gain of Rs127 crore in Q2 FY11).

Consolidated revenue (net of excise) for the half year ended 30 September 2011 (April-September 2011-12) was up 25.4 per cent at Rs69,486 crore from Rs55,399 crore in the first half of the previous year.

Consolidated profit before tax (PBT) in the first half of the current fiscal stood at Rs4,616 crore, compared to Rs4,798 crore for the corresponding period of the previous year. Consolidated profit (after tax and post minority interest and profit in respect of associate companies) for the first half year was Rs3,877 crore, compared to Rs4,212 crore in the corresponding period of the previous year.