Mumbai: Tata Motors Ltd, India’s largest automaker by revenue, on Friday said its consolidated net profit in the quarter ended 30 June fell 57.25% from a year ago due to higher costs and a forex loss.
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Revenue is likely to jump 6.5 per cent for the quarter to Rs 65,000 crore from Rs 61,250 crore in the June quarter of past year.
Consolidated net profit for the quarter fell toRs.2,260.40 from Rs.5,254.23 crore a year ago, missing analyst analysts.
The June quarter EBITDA is seen at Rs 8,950 crore, down 2 per cent YoY from Rs 9,108 crore in the year-ago quarter.
On JLR, Tata Motors in a release said, “Jaguar Land Rover wholesale and retail numbers stood at 120776 units and 118704 units for the quarter ended June 30, 2016”.
Standalone, JLR business saw a revenue of Rs 5,461 pounds in the first quarter compared to 5002 million pounds in the corresponding period of the previous fiscal thanks to better volumes.
Jaguar Land Rover posted a profit after tax of 304 million pounds compared with 492 million pound, down 38.21 per cent over a year ago.
“The operating performance in the quarter reflects the overall higher wholesales, offset by adverse forex impact of 207 pounds million, including revaluation of 84 million pounds, mainly Euro payables resulting from depreciation in the Pound following the Brexit vote”, Tata Motors said. China JV wholesales and retail were 13558 units and 14059 units.
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The Tata Motors stock price ended the day at Rs 514.25, 4 percent higher than its opening price on Friday.
