Tata Motors reported a 137% rise in net profit for the quarter ended December 2023 at Rs 7,025 crore (attributable to shareholders) as against a net profit of Rs 2,958 crore in the year-ago quarter. Tata Motors' total revenue rose 25% to Rs 1,10,577 crore in Q3FY24 as against Rs 88,488 crore in the corresponding period of the preceding fiscal.
Profit before tax climbed to Rs 7,493 crore in the third quarter of this fiscal as compared to Rs 3,202 crore in the corresponding period in the previous fiscal. JLR sales rose 27% in the October to December period, the group said earlier this month. Revenue from UK arm Jaguar Land Rover climbed to Rs 76,665 crore in the last quarter against Rs 58,863 crore in the December 2022 quarter.
Debt to equity ratio of the Tata Group firm fell to 1.58 times in Q3 against 3.68 in the third quarter of the previous fiscal. Earnings per share (EPS) in Q3 climbed to Rs 18.32 in the last quarter against Rs 7.71 in Q3 of the previous fiscal.
PB Balaji, Group Chief Financial Officer, Tata Motors said, “It is satisfying to see our businesses execute well on their differentiated strategies and deliver a strong set of results for the quarter, thereby making it six quarters of consistent delivery. We aim to end the year on a strong footing and remain confident of sustaining our performance in the coming quarters and delivering on our de-leveraging plans.”