Tata Motors rides JLR to a Rs6,250-crore Q4 profit
29 May 2012
Tata Motors saw its net profit more than double in fiscal fourth quarter ended 31 March 2012 helped by rising sales of its UK brands, Jaguar Land Rover (JLR).
Consolidated net profit of the company for the January-March 2012 quarter stood at Rs6,250 crore, against Rs2,623 crore in the comparable quarter of the previous year.
Consolidated net profit, after adjusting for minority interest and share of associates stood at Rs6,230 crore. Consolidated revenue rose 44 per cent to Rs50,609 crore, compared with Rs35,148 crore a year ago.
The company, which makes the world's lowest-priced car, Nano, and the sleek luxury Jaguar and Range Rover SUVs, said net profit for JLR for the quarter ended March was 696 million pounds.
The board of directors of the company at its meeting today recommended a dividend of Rs4 per ordinary share of Rs2 each and Rs4.10 per share of Rs2 each for FY 2011-12.
During the financial year ended 31 March 2012, the company's commercial vehicle (CV) market share stood at 59.4 per cent.