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Tata Motors' consolidated Q3 net profit plunges
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SME Times News Bureau | 15 Feb, 2017
Automobile giant Tata Motors on Tuesday reported a steep drop of 96.20
per cent in its net profit (post profit/loss in respect of joint
ventures and associate companies) for the quarter ended December 31,
2016.
The consolidated net profit after tax decreased to Rs 112
crore from Rs 2,953 crore during the corresponding quarter of last
fiscal.
The automobile manufacturer's consolidated revenue stood
at Rs 67,484 crore during the quarter under review, down 4.36 per cent
from Rs 70,567 crore during the like quarter of the previous fiscal.
The
company blamed an "unfavourable translation impact of Rs 10,670 crore"
for the substantial decrease in its consolidated revenue.
Segment-wise,
Jaguar Land Rover's (JLR) net profit declined by 62.04 per cent to 167
million pounds for the quarter ended December 31, 2016, compared to 440
million pounds in the corresponding period of last fiscal.
The
JLR's total retail sales, including the China JV (joint venture), during
the third quarter stood at 149,288 units, up 8.5 per cent.
Tata
Daewoo Commercial Vehicles registered net revenue of approximately Rs
1,603 crore and recorded a net profit of Rs 90 crore during the quarter
under review.
Tata Motors Finance, the company's financing
subsidiary, registered a net revenue from operations of Rs 688 crore and
reported a loss after tax of Rs 3 crore during the quarter.
On a standalone basis, the company reported a massive net loss after tax for the quarter ended December 31, 2016.
"Loss
before and after tax for the quarter ended December 31, 2016 was Rs
1,032 crores and Rs 1,046 crores, respectively, against Rs 139 crores
and Rs 137 crores, respectively, for the corresponding quarter last
year," the company said in a statement.
The automobile major's
standalone revenue, including joint operations, during the quarter under
review rose by 1.47 per cent to Rs 10,167 crore from Rs 10,019 crore
earned during the corresponding period of last year.
"Operating
profit (EBITDA) of the standalone business (including Joint Operations)
for the quarter stood at Rs 153 crore with operating margin at 1.5 per
cent," the statement said.
Tata Motors' sales of commercial and
passenger vehicles including exports for the third quarter of the
financial year stood at 132,572 units representing a growth of 7.5 per
cent as compared to the corresponding period of the previous year.
The
company's scrip at the BSE declined by 3.68 per cent or Rs 18.60 per
share to Rs 486.80 from its previous close of Rs 505.40 per equity
share.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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