Tata Motors Q2 consolidated net profit down 15.55 pc

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SME Times News Bureau | 15 Nov, 2011
Automobile giant Tata Motors Monday reported a 15.55 percent decline in the consolidated net profit, at Rs.1,877 crore, for the quarter ended Sep 30 as against Rs.2,223 crore during the same period of the previous financial year.

Revenue stood at Rs.36,198 crore during the quarter under review, up 26.9 percent compared to Rs.28,519 crore during the like period of the previous fiscal, the company said in a regulatory filing.

Tata Motors' sales of commercial and passenger vehicles for the first half of the financial year stood at 409,006 units representing a growth of 2.8 percent as compared to the corresponding period of the previous year.

Segment-wise, Jaguar Land Rover sale for the first half of 2011-12 stood at 130,090 units representing a growth of 13.8 percent as compared to the corresponding period of the previous year on the back of better product mix and with strong growth in China and Russia.

Tata Daewoo Commercial Vehicles registered net revenue of Rs.902 crore and recorded a net profit of Rs.3 crore during the quarter under review.

Tata Motors Finance, the company's financing subsidiary, registered a net revenue of Rs.471 crore and reported a net profit of Rs.52 crore during the quarter.

At the Bombay Stock Exchange, the shares of the company closed 2.09 percent lower at Rs.177.90.