Tata Motors, on Thursday, reported a 12 per cent growth in consolidated net profit at Rs.2,245 crore for the first quarter ended June 30, 2012.
Consolidated revenues grew 30 per cent to Rs.43,324 crore. Growth came largely from an improved performance by Jaguar Land Rover (JLR) but was impacted by foreign exchange loss of Rs.441 crore, said C. Ramakrishnan, CFO, Tata Motors, while addressing a press conference. JLR reported an 8 per cent higher net profit of 236 million pound on 35 per cent higher revenues of 3.64 billion pound. Operating margins were 14.5 per cent. The operating profit grew 45 per cent to 527 million pound.
JLR said the continued strong revenue and operating profit were supported by demand for new products, improved market mix and favourable exchange rate environment.
Earlier this month, JLR declared its maiden dividend of 150 million pound (around Rs.1,290 crore). Ralf Speth, CEO, JLR, said, the company incurred a capital expenditure of 400 million pound during the quarter.
JLR sales grew 34.4 per cent to 83,452 units, led by China which grew 91 per cent, and constituted 22.2 per cent of total sales.
On a standalone basis, Tata Motors’ net profit dropped 48 per cent to Rs.205 crore while revenues fell 10 per cent to Rs.10,586 crore.
Operating margin was 7.3 per cent (8.8 per cent).