News Worms
News Worms


Tata Motors Q2 profit vrooms 195% on JLR sales

Tata Motors Q2 profit vrooms 195% on JLR sales

The surge in profit was aided by strong sales of new sport utility vehicles Range Rover Velar, Land Rover Discovery, and Jaguar F-Pace.

JLR plans to launch several new products next year including the Jaguar XF Sportbrake sport-utility vehicle (SUV), the E-Pace, a compact SUV, and the I-Pace, its first electric sports auto, Speth said after the company announced a three-fold rise in profit.

Homegrown auto major Tata Motors on Thursday reported a threefold jump in consolidated profit at Rs 2,502 crore in the quarter to September from Rs 848 crore in same quarter last fiscal, its biggest profit jump in six quarters after luxury vehicle brand Jaguar Land Rover began selling new models.

Group revenue inched up 10 per cent to Rs 70,156 crore, while net income vroomed past 195 per cent from Rs 848 crore a year ago, the company said here this evening. Analysts on average expected a net profit of Rs 1499 crore, according to Thomson Reuters data.

With Q1 performance below expectations, Tata Motors witnessed a month-on-month growth in sales and market share in Q2 outperforming the industry and reaching highest sales in September 2017 in PV since November 2012 and in CV since June 2014.

"This is the first quarter since the turnaround plan has been fully implemented, and Im confident, going forward the results will only get better", Guenter Butschek, MD & CEO, Tata Motors told reporters.

On Thursday, Tata Motors said its sales of commercial and passenger vehicles grew about 14% in the second quarter, while the operating margin expanded to 7.2% from 3.3% a year ago.

The British marquee JLR reported a massive 38 per cent spike in pre-tax profit at 385 million pounds driven by an 11.5 per cent rise in revenue to 6.3 billion pounds. Its retail sales grew 5.1 percent to 149,690 units, with increases in China (27.4%) and the USA (5.1%) offsetting lower sales in the United Kingdom and Europe.

This helped the company book an operating margin of 11.8 per cent and Ebit margin of 5.2 per cent in the quarter. "Although we are facing headwinds and uncertainty in some markets, JLR is well positioned to deliver further global expansion", he added.

"We have delivered solid growth in quarterly profit and revenue amid rising demand for our products", JLR CEO Ralf Speth said.

Speth concluded: "Our product portfolio continues to excite and surprise".

follow

editors' picks

November 10, 2017
Khulna-Kolkata railway service launched
The prime minister also invited Modi, Swaraj and Banerjee to visit Bangladesh. The Bandhan Express will start ferrying passengers from November 16 onwards.

November 10, 2017
Thundering Herd Continues Improvement in Graduation Success Rate
Auburn Athletics posted its highest Graduation Success Rate (GSR) in program history with an 82 percent. A GSR of 90 percent is four percentage points higher than the average of all other Division I programs.

November 10, 2017
Packers cut TE Martellus Bennett with failure to disclose physical condition designation
Last month, Bennett, 30, wrote an Instagram story explaining he was leaning toward retiring after this season. Then, one week ago, Bennett mysteriously missed practice with a shoulder injury.

November 10, 2017
The Last Jedi Season Is Coming - Electronic Arts
As DICE announced your choice will allow you to take part in "special challenges that will grant your faction specific rewards". Also , a new hero ship will be playable: Tallie Lintra's RZ-2 A-wing from The Last Jedi .

November 10, 2017
How to View iTunes, App Store Purchase History on iPhone and iPad
Users must first apply their credit or debit cards to Apple's Wallet app before proceeding with the Apple Pay Cash . This is a relatively small update, so it shouldn't take long for you to download it and rid yourself of these bugs.

November 10, 2017
Court denies Ezekiel Elliott appeal, suspension upheld
The NFL handed down Elliott's suspension August 11 after a yearlong investigation into accusations of domestic violence in Ohio. The NFL Players Association has reportedly told ESPN that Elliott will not play "while we argue".

November 09, 2017
Man United board sends message to Mourinho over January transfer window
It's not the first time Traore has hit out at Chelsea's youth policy , saying last month: "Leaving was the best decision for me. He faced fierce competition for places, though, and secured a €10 million switch to Lyon in the last transfer window.

November 09, 2017
IPad with Face ID May Come in 2018
Apple is probably also limiting the number of devices that feature an OLED display simply because of the shortage. The new version will mark the first revamped look for the iPad since the first iPad Pro debuted in 2015.

November 09, 2017
BMW Introduces Special Edition M3 CS
Now, the German automaker has confirmed the vehicle to be the M3 CS and has officially revealed the high-performance sedan. The M3 CS also features lighter alloy wheels, 19-inch up front and 20-inch in the back, with staggered tires.

November 09, 2017
Congress grills former Equifax, Yahoo CEOs over identity data breaches
All 3 billion of Yahoo's users as of 2013 were affected by the hack, which the company only became aware of in December 2016. That includes a credit-monitoring app that will be available in January, and free credit locks from the company.