Tata Motors' Q2 net almost flat at Rs401 crore
11 Aug 2011
Tata Motors posted a marginal 1.4-per cent growth in its standalone net profit, at Rs401 crore for the quarter ended 30 June 2011, on the back of a decline in domestic passenger car sales and deliveries of Jaguar.
Tata Motors' net income rose to Rs2,000 crore ($441 million) during the April-June 2011 quarter from Rs1,990 crore a year earlier while net sales during the period rose 14 per cent to Rs11,833.19 crore, the company said in release today.
Tata Motors said its raw material cost rose over 37 per cent year-on-year to Rs20,390 crore during the April-June 2011 compared with Rs14,850 crore a year earlier.
On a consolidated basis, Tata Motors' net profit was flat at Rs1,989 crore, while net sales rose 24 per cent to Rs33,392 crore and revenue rose 24 per cent from a year earlier to Rs33,57 crore.
Sales of commercial and passenger vehicles, including exports, for the quarter grew 4 per cent to 197,606 units.
In the domestic market, commercial vehicle sales rose 13 per cent to 113,186 units, while passenger vehicle sales, including those of Fiat and Jaguar and Land Rover vehicles, declined 8.5 per cent. Jaguar's sales dropped 27 per cent while Nano's sales declined 64 per cent.