Tata Motors posts net profit of ₹5,408 crore in Q4, beats estimates
- Tata Motors posted a consolidated net profit of ₹5,408 crore in Q4, beating analyst expectations.
- This quarter’s profits were driven by growth in domestic sales and improved performance of Jaguar Land Rover.
- Total revenue from operations stood at ₹1.06 lakh crore in the fourth quarter as against ₹78,439 crore in the year-ago period.
AdvertisementTata Motors on Friday reported a consolidated net profit of ₹5,408 crore in Q4, beating analyst expectations. In the same quarter last year, it posted a consolidated net loss of ₹1,033 crore.
This is Tata Motors’ second consecutive profitable quarter, after it posted losses for seven consecutive quarters since Q4 FY21. The profit this quarter is driven by growth in domestic sales and improved performance at its British subsidiary Jaguar Land Rover.
Total revenue from operations grew 35% YoY to ₹1.06 lakh crore in the fourth quarter as against ₹78,439 crore in the year-ago period, it added.
On a standalone basis, the automaker reported a net profit of ₹2,696 crore for the period under review as against ₹413 crore in the fourth quarter of 2022-22.
For the year ended March 31, 2023, the auto major reported a consolidated net profit of ₹2,414 crore as compared with a net loss of ₹11,441 crore in FY22.
Total consolidated revenue stood at ₹3.46 lakh crore in the period under review as against ₹2.78 lakh crore in 2021-22 fiscal.
“The year ended on a strong note with all automotive verticals delivering robust performances leading to multiple all-time high achievements. The distinct strategy employed by each business is delivering, in unison, leading to a sharp improvement in overall results. We remain confident on growth with cash flow generation, to achieve our stated goals,” said PB Balaji, Group Chief Financial Officer, Tata Motors.
Tata Motors’ Q4 and FY23 in numbers:
|Particulars||FY23||FY22||Q4 FY23||Q4 FY22|
|Revenue||₹3,42,875 crore||₹2,75,523 crore||₹1,05,932 crore||₹78,439 crore|
|Net profit||₹2,414 crore||-₹11,441 crore||₹5,408 crore||-₹1,033 crore|
Source: Company reports
"In this context, we aim to further improve and deliver a strong performance in FY24. The momentum is expected to build through the year factoring in seasonality, stabilization of JLR supply chain and post RDE impact in India," the company said in an exchange filing.
Shares of the company ended 0.78% down at ₹515.65 apiece ahead of the earnings report, on the BSE.
(With inputs from PTI)
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