Tata Motors Q3 net profit surges more than 2-fold to Rs 7,025 cr
New Delhi, Feb 2 (IANS) Tata Motors on Friday announced a more than two-fold increase in its consolidated net profit at Rs 7,025 crore for the October-December quarter of the current financial year driven by strong sales in its UK luxury car unit Jaguar Land Rover (JLR).
The company had recorded a net profit of Rs 2,958 crore in the same quarter of the previous fiscal.
JLR’s sales rose 27 per cent in the global market in the third quarter, accounting for two-third of the revenue.
“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.