Tata Motors Q1 Net Up 12 Percent at 2,244.91 Cr

Mumbai: Riding on good performance from JLR, Tata Motors reported 12.26 percent increase in net profits for the first quarter ended June 30, 2012 at 2,244.91 crore. The company had posted net profit of 1,999.62 crore in the same period a year ago, Tata Motors said in a statement. Sales during the period under review stood at 44,176.85 crore as against 34,060.59 crore in the same quarter last fiscal, up 29.7 percent, it added. Revenues of Jaguar Land Rover for the quarter ended June 30, 2012 stood at 3,638 million pounds, a growth of 34.6 percent over 2,703 million pounds in the corresponding quarter last year, Tata Motors said. Tata Motors’ sales (including exports) of commercial and passenger vehicles for the quarter stood at 1,90,483 units, down 3.6 percent, as compared to the corresponding period last year. In the domestic market, the company’s commercial vehicles sales for the period under review stood at 1,14,710 units, a growth of 1.3 percent over the corresponding period last year. Passenger vehicles sales in the domestic market, including Fiat and Jaguar and Land Rover vehicles distributed in India, stood at 62,619 units for the quarter ended June 30, 2012, a decrease of 9.9 percent over the corresponding period last year, it added. Jaguar Land Rover sales’ during the quarter grew 34.4 percent to 83,452 units. Of this, the Jaguar volumes for the period stood at 11,774 units and Land Rover volumes at 71,678 units, the company said. “Growth in volumes was driven by sales of the new Range Rover Evoque and strong demand from China, which grew 91 percent year—on—year,” it added. Sales from the China region comprised 22.2 percent of total volumes for the quarter ended June 30, 2012, as against 15.7 percent for the corresponding period last year, it said. Tata Motors shares were trading at 237.90 per scrip in the afternoon trade on BSE, down 1.47 percent from the previous close.