Tata Motors PAT up 122 per cent
By Our Corporate Bureau | 29 Jul 2004
Mumbai: TATA Motors Ltd yesterday reported a 122.66 per cent rise in profit after tax for the quarter ended June 30, 2004, to Rs 223.36 crore against Rs 100.31 crore posted in the previous corresponding period.
The board has approved a proposal to list the company's outstanding Global Depository Receipts (GDRs) on the New York Stock Exchange (NYSE) in the form of American Depository Receipts (ADRs). There will not be any new share issue or capital raising as part of the listing slated for this fiscal.
"The listing was a component of our plan to go global,' Praveen Kadle, executive director, Tata Motors, said.