Tata Motors Q3 net profit falls 52 per cent to Rs1,628 crore

Tata Motors has reported consolidated net profit of Rs1,628 crore for fiscal third quarter ended 31 December 2012, a 52 per cent fall from the Rs3,406 crore net profit reported in the corresponding quarter of the previous year.

This is also the first fall in quarterly net (after tax and minority interest and profit in respect of associate companies) profit of Tata Motors since the quarter ended 30 September 2011.

Tata Motors, hit by falling margins and rising capital expenditure, reported profit before tax of Rs2,668 crore for the October-December 2012 quarter, against a PBT of Rs4,494 crore during the corresponding quarter of the previous year.

Tata Motors reported consolidated revenues (net of excise) of Rs46,090 crore for the quarter ended 31 December 2012, a growth of 1.8 per cent over Rs45,260 crore during the corresponding quarter of the previous year.

Volumes were driven by strong demand and favourable market mix at Jaguar Land Rover (JLR), Tata Motors said in a release today.

Revenues (net of excise) for the quarter ended 31 December 2012 stood at Rs10,630 crore, against Rs13,338 crore during the corresponding quarter of the previous year.