Tata Motors Q4 net profit down 36.7% at Rs3,945 crore
29 May 2013
Tata Motors has reported a 36.7 per cent decline in its consolidated net profit (after tax and post minority interest and profit in respect of associate companies) for the quarter ended 31 March 2013, at Rs3,945 crore against a net profit of Rs6,234 crore during the corresponding quarter of the previous year.
Tata Motors said the significant fall in profit for the fourth quarter of 2012-13 was due mainly to a one-off tax gain that made profit for the previous year quarter look bigger.
Consolidated profit before tax for the January-March 2013 quarter was Rs4,694 crore, as compared to Rs4,424 crore during the corresponding quarter of the previous year.
Tata Motors, part of the salt-to-software Tata Group, said consolidated revenues (net of excise) for the January-March 2013 quarter rose 10 per cent to Rs56,002 crore against Rs50,908 crore during the corresponding quarter of the previous financial year.
The company said the strong demand, growth in volumes, favourable market mix and favourable operating foreign exchange at Jaguar Land Rover (JLR) has more than offset a weak operating environment in India.
Consolidated net profit (after tax and post minority interest and profit in respect of associate companies) for the financial year 2012-13 stood at Rs9,893 crore, down from Rs13,517 crore last year.
Consolidated revenue (net of excise) for financial year was up 14 per cent at Rs1,88,818 crore, against Rs1,65,654 crore during the previous year.
Consolidated profit before tax for the year stood at Rs13,633 crore, against Rs13,534 crore during the previous year.
In the domestic market, commercial vehicles sales for the year ended 31 March 2013 stood at 5,36,232 units, driven by the LCV segment, and the company's overall market share in commercial vehicles stood at 59.5 per cent for the year. Passenger vehicle sales stood at 229,325 units for the year ended 31 March 2013, with an overall market share of 8.9 per cent.
