Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

But the job is not done yet!
Vote for the deserving candidate this year.

Check your mail to know more

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
SPONSORED BY
»
2-min read

Tata Motors Q1 Profit up by 42%

British arm JLR reported a revenue of 5.6 billion pounds, up 244 million pounds. JLR's profit before tax was 595 million pounds, up from 399 million pounds in the year-ago period.

PTI

Updated:August 10, 2017, 8:22 AM IST
facebookTwittergoogleskypewhatsapp
Tata Motors Q1 Profit up by 42%
Image used for representational purpose. (Image: Reuters)
Loading...
Homegrown auto major Tata Motors today reported 41.54% jump in net profit to Rs 3,199.93 crore for the June quarter of the current fiscal, benefiting from one-time gain relating to changes made to JLR pension plans. It had posted the consolidated net profit of Rs 2,260.4 crore in the April-June period of last fiscal, Tata Motors said in a BSE filing. Income from operations during the period under review stood at Rs 59,818.22 crore, as against Rs 66,165.89 crore in the year-ago period, down 9.59%.

"Consolidated profit before tax for the quarter includes a one-time gain of Rs 3,609 crore (437 million pounds) relating to the changes made to the Jaguar Land Rover pension plans," Tata Motors said. Volume sales, including exports of commercial and passenger vehicles for the quarter, stood at 1,11,860 units, down 11.8% when compared to the corresponding quarter last year, it said.

Tata Motors said its operating performance broadly reflected JLR's lower wholesale volumes excluding China JV and continuation of higher competitive incentive levels and launch and growth costs seen in FY17.

In the domestic market, there has been significant de- growth in the medium and heavy commercial vehicles segment, flat light commercial segment and moderate growth in passenger vehicles segment. Tata Motors MD & CEO Guenter Butschek said: "While the first quarter results have not met our expectations, we are working with renewed focus and energy to improve the performance of our commercial and passenger vehicle businesses."

On a standalone basis, Tata Motors posted a loss of Rs 467.05 crore for the June quarter of 2017-18 fiscal. It had registered a profit of Rs 25.75 crore in the same period of 2016-17. Total income from operations on a standalone basis during the quarter was at Rs 10,375.32 crore as compared to Rs 11,434.91 crore in the year-ago period, down 9.26%.

British arm JLR reported a revenue of 5.6 billion pounds, up 244 million pounds. JLR's profit before tax was 595 million pounds, up from 399 million pounds in the year-ago period. This included a 437 million pounds one-off credit relating to recent changes designed to improve the sustainability of the company's defined benefit pension plans, Tata Motors said. JLR retail sales for the quarter was at 137,463 units, up 3.5% from the year-ago period.

Jaguar Land Rover Chief Executive Officer Ralf Speth said: "We continue to deliver rising volumes and revenues across the business, reflecting strong demand for new models such as the Range Rover Velar and established global award winners such as Jaguar F-PACE." Shares of Tata Motors ended the day at Rs 416.75 a piece, down 3.17, on BSE.

Also Watch: Puneet Anand Interview on the New Hyundai Verna


| Edited by: Ayushmann Chawla
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
T&C Apply. ARN EU/04/19/13626
 

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results