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Tata Motors Q4 net dips 56% to Rs 1,716 cr

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Mumbai : Homegrown auto major Tata Motors reported a 56.19% decline in consolidated net profit at Rs 1,716.50 crore for the fourth quarter ended March as its domestic business remains a drag, while British arm Jaguar Land Rover also witnessed weak demand. The company had reported a consolidated net profit of Rs 3,918.29 crore in the same quarter previous fiscal.

Consolidated net sales during the period under review stood at Rs 67,297.99 crore as against Rs 64,715.81 crore in the year-ago period, up 3.99 per cent, the company said in a filing to the BSE. Tata Motors sales, including exports, of commercial and passenger vehicles for the quarter stood at 1,39,053 units, up by 5.1 per cent, as compared to the same quarter last year.

On a standalone basis, Tata Motors net loss for the fourth quarter widened to Rs 1,164.25 crore from Rs 816.61 crore in the year-ago period. Jaguar Land Rover (JLR) profit after tax during the fourth quarter stood at 302 million pounds as against 449 million pounds in the corresponding period last year while revenuesrose marginally to 5.8 bln sterling pound from 5.3 bln sterling pound a yearago. Operating margin of JLR stood at 17.4% against 17.2% a year ago. For the entire fiscal 2014-15, JLR’s wholesales were at 4,62,209 units, while on quarterly basis it sold 1,29,205 units.