Tata Motors Turnover Doubles in Q4

Source: #-Link-Snipped-#


Tata Motors' standalone fourth quarter net profit was almost flat from a year ago as soaring expenditure reduced profitability despite doubling of turnover.
Its net profit for the fourth quarter ended March 2010 was Rs 597 crore (Rs 591.42 crore).


Turnover doubled to Rs 12,229.7 crore (Rs 6,894.88 crore); but expenditure too rose as much, to Rs 11,967.19 crore (Rs 5,712.81 crore).
The company's UK subsidiary, Jaguar Land Rover, made a net profit of £73 million (Rs 496 crore) for the quarter.


Tata Motors' shares were up 4.72 per cent at Rs 742.90 on Thursday on the BSE.


In fact, the turnaround of JLR coupled with substantial volume growth in the domestic market helped Tata Motors report a consolidated net profit of Rs 2,571 crore for 2009-10 compared with the Rs 2,505-crore net loss posted in the previous year.
The consolidated net profit was boosted by the one-time gain of Rs 1,100 crore from the 20 per cent stake sale in the construction equipment firm Telcon.