Tata Motors' Q2 after-tax profit more than doubles to Rs729.14 crore
27 Oct 2009
Tata Motors today reported a 110.1 per cent jump in its fiscal second quarter (July-September 2009-10) profit after tax at Rs729.14 crore against Rs346.99 crore in the same quarter of the previous fiscal (Q2-2008-09).
Profit before tax vaulted 153.3 per cent for the quarter to Rs906.85 crore from Rs358.01 crore in the same quarter of the previous fiscal (Q2-2008-09).
The company reported a notional foreign exchange loss (net) of Rs245.23 crore.
Tata Motors reported revenues (net of excise) of Rs7,978.82 crore on a stand-alone basis for the quarter ended 30 September 2009, compared with Rs7,078.85 crore in the corresponding quarter last year.
For the second quarter in a row, the company improved its operating margin to 13.4 per cent, an improvement of 580 basis points compared with the corresponding quarter of the previous year.
"Volume recovery combined with improved realisations contributed to growth in revenues whilst stable material prices and accelerated cost reduction efforts continued to yield beneficial impact on margins," Tata Motors said in a release.