Ahead of the launch of the Zest sedan, Tata Motors reported consolidated revenues (net of excise) of Rs 64,683 crores for the quarter, up 38.2 percent over Rs 46,796 crores for the corresponding quarter of the previous year
11 Aug 2014 | 2348 Views | By Brian de Souza
Ahead of the launch of the Zest sedan, Tata Motors reported consolidated revenues (net of excise) of Rs 64,683 crores for the quarter, up 38.2 percent over Rs 46,796 crores for the corresponding quarter of the previous year, despite a weak operating and economic environment in the standalone business which ...
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Ahead of the launch of the Zest sedan, Tata Motors reported consolidated revenues (net of excise) of Rs 64,683 crores for the quarter, up 38.2 percent over Rs 46,796 crores for the corresponding quarter of the previous year, despite a weak operating and economic environment in the standalone business which was more than offset by strong demand for new products, growth in volumes, richer product mix and richer geographic mix at Jaguar Land Rover (JLR).
The consolidated PBT for the quarter was Rs 7,528 crores as compared to Rs 2,934 crores for the corresponding quarter of the previous year and the consolidated profit after tax (post minority interest and share of profit / (loss) of associates (net)) for the quarter was Rs 5,398 crores as compared to Rs 1,726 crores for the year-earlier quarter.
In the standalone business, sales (including exports) of commercial and passenger vehicles for the quarter, stood at 1,10,612 units, down 28.3 percent as compared to the year-earlier.
The revenues (net of excise) for the quarter stood at Rs 7,705 crores, as compared to Rs 9,105 crores for the corresponding quarter of the previous year. Continued slowdown in the economic growth and other macro- economic parameters continued to impact the demand for the auto industry in general and commercial vehicle industry in specific. The CV industry declined in the quarter compared to the corresponding quarter last year, down 10 percent in the cyclical M&HCV segment and around 26 percent in the LCV segment.
However, during the quarter, Tata launched its Ultra trucks in the intermediate and light commercial vehicle (ILCV) range. It also launched the Tata Aria with the Varicor 2.2 litre engine under the hood and other value added features. Profit before and after tax for the quarter ended June 30, 2014 was Rs 394 crores and Rs 394 crores, respectively, against the profit before and after tax of Rs 753 crores and Rs 703 crores, respectively, for Q1 in 2013-14. Profit before tax for the quarter ended June 30, 2014, includes dividends from subsidiary companies of Rs 1,549 crores (Rs 1,537 crores for the corresponding quarter last year).