City
Epaper

Tata Motors' Q3 PAT zooms to Rs 7,145.43 crore

By IANS | Updated: February 2, 2024 23:20 IST

Chennai, Feb 2 Indian automobile major Tata Motors Ltd said on Friday that it logged a consolidated net ...

Open in App

Chennai, Feb 2 Indian automobile major Tata Motors Ltd said on Friday that it logged a consolidated net profit of Rs 7,145.43 crore for the quarter ended December 31, 2023.

In a regulatory filing, Tata Motors said for the third quarter ended December 31, 2023, it had earned an operational revenue of Rs 110,577.14 crore (Q3FY23 Rs 88,488.59 crore) and a net profit of Rs 7,145.43 crore (Q3FY23 Rs 3,043.15 crore).

“It is satisfying to see our businesses execute well on their differentiated strategies and deliver a strong set of results for the quarter, thereby making it six quarters of consistent delivery. We aim to end the year on a strong footing and remain confident of sustaining our performance in the coming quarters and delivering on our de-leveraging plans,” said P.B. Balaji, Group Chief Financial Officer, Tata Motors.

The company remains positive on its three automotive businesses – Jaguar and Land Rover (JLR), Tata Commercial Vehicles, and Tata Passenger Vehicles.

“We expect the performance to further improve in Q4 on account of seasonality, new launches and improving supplies at JLR. We achieved net debt reduction of Rs 9.5,000 crore in Q3 and we are confident of achieving our deleveraging plans,” the company said in a statement.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Open in App

Related Stories

InternationalEarthquake of magnitude 5.7 rocks Tibet

InternationalUkraine President agrees meeting with Putin this week

InternationalUS announces trade deal with China in Geneva

MaharashtraMumbai News: Cops Arrest Trio for Opening Fake Bank Accounts Under ‘Ladki Bahin’ Scheme for Cyber Fraud

NationalKarachi was in line of fire during Operation Sindoor, affirms Indian Navy

Business Realted Stories

BusinessGlobal HIV market to cross $32 billion in 7 major markets in 2033: Report

BusinessSEBI to likely relax proposed limits on index options trading: Report

BusinessCzech Republic to appeal injunction halting nuclear power deal with S. Korea

BusinessIndia, EU to kick off next round of free trade talks in Delhi on Monday

BusinessMonsoon to hit Kerala coast ahead of normal onset date, positive for country's economy