Mumbai : Tata Motors’ net profit fell by 7 % to Rs 3,291 crore in the second quarter on higher tax provisions and a steep decline in India sales, even as margins improved at its flagship British arm JLR. The auto major had posted a consolidated net profit of Rs 3,541.86 crore in the September quarter of the last fiscal.
Revenue from the company’s British unit Jaguar Land Rover (JLR) went up by 7.34 % to Rs 49,160.72 crore in the second quarter this fiscal, as against Rs 45,795 crore in the year-ago period. JLR reported a massive spike in margin to 19.4 % from 15.3 % in the year-ago period. However, JLR’s net profit also declined to 450 million pounds from 507 million pounds on higher tax provisions and forex adjustments. Consolidated tax expenses rose to Rs 2,364 crore from Rs 1,194 crore, while finance cost came down to Rs 927.2 crore from Rs 1,112.52 crore, Tata Motors Group Financial Officer C Ramakrishnan told reporters. Group net sales rose by 8.03 % to Rs 60,163.99 crore from Rs 55,686.87 crore, Ramakrishnan said. Revenues from Tata and other brand vehicles and financing during the quarter were at Rs 11,146.50 crore, up 3.89 %. On a standalone basis, Tata Motors net sales declined 1.17 % to Rs 8,657.85 crore from Rs 8,761.10 crore, he said, adding standalone sales volume dipped 15.70 % to 1,27,220 units, including exports, from 1,50,930 units. As a result, in the passenger car market its Indian market share came down to 5.1 % during the quarter.
