A rise from the previous year was observed, with consolidated net profit reaching Rs 7,025 crore ($847.7 million) in the three months ending December 31 (Tata Motors Q3 results).
Tata Motors, India’s most esteemed automaker, announced a profit surge exceeding two times the expectations in the third quarter on Friday. This remarkable performance was driven by robust sales in its upscale British automotive segment, Jaguar Land Rover (JLR).
The consolidated net profit for the quarter ending December 31 rose to Rs 7,025 crore ($847.7 million), marking a substantial increase compared to the same period last year (Tata Motors Q3 results).
According to data from the London Stock Exchange Group (LSEG), analysts had anticipated an average profit of Rs 4,451 crore. Approximately two-thirds of Tata Motors’ revenue is attributed to the sale of higher-priced and margin-enhancing cars from its Jaguar Land Rover (JLR) division. This segment primarily serves a wealthy global customer base that remains relatively unaffected by elevated inflation levels.
Earlier this month, the group reported a 27% increase in Jaguar Land Rover (JLR) sales during the October to December period. This significant growth played a key role in propelling Tata Motors’ overall quarterly revenue to a 25% increase, reaching Rs 1.11 Lakh crore, surpassing analysts’ predictions (Tata Motors Q3 results).
Despite this positive trend, the domestic market for Tata Motors faced challenges due to subdued demand, resulting in a modest 3% rise in total sales volumes for the quarter, according to the company’s monthly sales data.
