Tata Motors Q4 net up 26 pc

Mumbai: Tata Motors has registered a 26 per cent growth in Q4 net profit ended March 31, to Rs576.72 crore from Rs458.11 crore in the corresponding previous period. Sales of vehicles during the quarter rose 16 per cent to 172,355 units compared to 148,343 units in the corresponding previous period. Sales of commercial vehicles in the domestic market rose by 22 per cent, while passenger vehicles'' sales increased 14 per cent.

For the year 2006-07, profit after tax rose 25 per cent to Rs1,913.46 crore from Rs1,528.88 crore in the corresponding previous period. Revenue (net of excise) grew 33 per cent to Rs27,535.24 crore (Rs20,653.49 crore). On a consolidated basis, net profit for the year increased to Rs2,169.99 crore (Rs1,728.09 crore), a growth of 26 per cent. This includes a foreign exchange gain of Rs60.20 crore. Net income rose 20 per cent to Rs8,267 crore (Rs6,869.65 crore). However, expenditure before income, tax and amortisation margins fell to 11.7 per cent (13 per cent) due to increase in input costs and interest rates and increased competition, said company sources. The board has decided to pay Rs15 dividend per share.

Senior officials said the company would continue to face margin pressure in the current year as inputs costs are expected to go up further.

The Tata Motors scrip fell by 1.07 per cent to close at Rs742.75 on the BSE on Friday.