Tata Motors Q2 net profit declines 7.08%

Tata Motors on Friday reported a decline of 7.08 per cent in its consolidated net profit at Rs 3,290.86 crore (Rs 32.91 billion) for the second quarter ended September 30, 2014.

The auto major had posted consolidated net profit of Rs 3,541.86 crore (Rs 35.42 billion) in the July-September period of 2013-14 fiscal.

Consolidated net sales during the quarter this year increased by 8.03 per cent to Rs 60,163.99 crore (Rs 601.64 billion), from Rs 55,686.87 crore (Rs 556.88 billion) in the year-ago period, Tata Motors said in a filing to the Bombay Stock Exchange.

Revenue from the company's British unit, Jaguar Land Rover went up by 7.34 per cent to Rs 49,160.72 crore (Rs 491.62 billion) in the second quarter this fiscal, as against Rs 45,795 crore (Rs 457.95 billion) in the year-ago period.

On the other hand, revenue from Tata and other brand vehicles and financing during the quarter were at Rs 11,146.50 crore (Rs 111.47 billion) up 3.89 per cent from 10,728.01 crore (Rs 107.28 billion) in the same period a year ago.

On a standalone basis, Tata Motors' net loss widened to Rs 1,845.63 crore (Rs 18.46 billion) as against Rs 803.53 crore (Rs 8.04 billion) in the same period a year ago.

Standalone net sales also declined by 1.17 per cent to Rs 8,657.85 crore (Rs 86.58 billion) in Q2, compared to Rs 8,761.10 crore (Rs 87.61 billion) Q2 of last fiscal.

The company's standalone unit volume sales were at 127,220 vehicles, including exports, for the quarter ended September 30, decline of 15.70 per cent from 150,930 units in the corresponding period last year.

Tata Motors shares closed at Rs 523.80 per scrip, down 0.47 per cent, on the BSE.