Tata Motors profit dips to 21.67 Bn

Friday, 30 May 2008, 05:20 Hrs
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Mumbai: Tata Motors has posted a net profit of 21.67 billion for the financial year 2007-08 -- down from 21.69 billion during the previous year.

The company reported a consolidated gross revenue of 403.40 billion in 2007-08, a growth of 9.3 percent compared to 369.22 billion in 2006-07.

The company has reported a Basic Earnings Per Share (EPS) of 56.24 for its consolidated operations as against 56.43 in 2006-07.

The total sales volume (including exports) for 2007-08 is 585,649 units, which is highest so far for the company, compared to 580,280 units in 2006-07.

In the domestic market, commercial vehicles' sales increased by 4.8 percent to 312,935 units while passenger vehicles' sales, at 218,055 units, declined by 4.5 percent.

The company's margins were under pressure during the year due to rising interest rates, constraints in availability of vehicle financing from outside sources and unprecedented increase in input prices, the company said in a statement.
Source: IANS
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