Tata Motors Q4 net jumps 113 percent

Tata Motors Q4 net jumps 113 percent

By SiliconIndia   |   Thursday, 20 May 2004, 07:00 Hrs
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MUMBAI: Tata Motors, the commercial vehicle and passenger car manufacturer, has reported a 112.6% rise in net profit for the fourth quarter ended March 31, ’04 to Rs 292.5 crore, up from Rs 137.6 crore for the corresponding period last fiscal.

Buoyed by robust growth in commercial vehicle volumes, the company’s net sales shot up 35.3% to Rs 4,859 crore. Profit before tax rose 88.7% from Rs 232.4 crore to Rs 438.4 crore during the period.

For the full fiscal, Tata Motors posted a net profit of Rs 810.3 crore, up from Rs 300.1 crore, while operating profit shot up from Rs 1,139.4 crore to Rs 1,881.8 crore during the period. Net sales were 42.9% higher at Rs 15,493.5 crore.

The company’s board of directors, which met on Wednesday, has recommended a final dividend of Rs 4 per share (40%), which, coupled with the interim dividend, takes the total dividend payout for the fiscal to Rs 8 per share (80%). On the BSE, the Tata Motors scrip rose 4.7% to Rs 420.7. The results came in after trading hours.

The better-than-expected performance by the company comes on the back of a 43.7% rise in commercial vehicle volumes to over 1.5 lakh units. Sales of passenger cars, comprising Indica and mid-size sedan Indigo, jumped 34.4% to 1.4 lakh units. The company’s market share in the commercial vehicle segment increased from 55.6% to 58.5% during the period. Total exports rose 124.8% to 22,046 units.

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