Tata Motors Reports Strong Q1 Numbers. Net Profit stood at Rs 3300 Crore

Overall PBT stood at Rs 4653 Crores and Net Profit stood at Rs 3300 Crore.

Tata Motors released its financial results for the quarter ended June 30, 2023 on July 25, 2023. The company reported strong numbers for Q1 2024.

The company’s performance was driven by strong growth in its JLR and CV businesses, whilst the PV business was steady.

Tata Motors continued its strong performance in Q1 FY24 with Revenues at Rs 1.02 Lakh crore. Revenues are up by 42% on yoy basis.

Company reported  EBITDA of Rs14,700 Crore, up by 177% on yoy basis  and EBIT of Rs 8300 Crore

JLR revenues improved significantly in Q1. Revenue improved by 57% to £6.9 billion.

JLR PBT was up by £67 million from Q4 FY23 to £435 million in Q1 FY24.

JLR Order book stood at 185000 units with Range Rover, Range Rover Sport and Defender representing 76% of the order book. Tata’s newly announced £4bn UK gigafactory will provide JLR with stable and secure supply of battery cells to electrify JLR’s next generation modern luxury vehicles.

Commercial Vehicle (CV) volumes were lower by 15% over prior year due to transition to BS6 Phase 2. However, the EBIT margins improved to 6.5% benefiting from the demand-pull strategy and richer mix. Domestic CV volumes were 82.4K units, down 14.1% yoy. Exports were at 3.6K units, down 32% yoy because of subdued economic conditions in overseas markets as well.

Growth in the Passenger Vehicle (PV) business was steady.

Q1 revenue of PV segment stood at Rs 12.8K Crore.

 Overall PBT stood at Rs 4653 Crores and Net Profit stood at Rs 3300 Crore.

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