Tata Motors Q3 net down 25% due to poor home show

Homegrown auto major Tata Motors on Thursday reported a 25.47 per cent decline in its consolidated net profit at Rs 3,580.72 crore for the third quarter ended December 31, 2014, pulled down by its Indian operations.

The auto major had posted consolidated net profit of Rs 4,804.8 crore in the same quarter last fiscal.

Consolidated net sales during the third quarter increased by 8.83 per cent to Rs 69,121.61 crore, as against Rs 63,512.51 crore 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 8.64 per cent at Rs 58,549.97 crore as against Rs 53,892.52 crore in the corresponding quarter last year, it added.

On the other hand, revenue from Tata and other brand vehicles and financing during the quarter were at Rs 11,158.87 as against Rs 9,741.37 crore in the same period last fiscal, up 14.55 per cent.

On a standalone basis, Tata Motors' posted a net loss of Rs 2,122.72 crore against a profit of Rs 1,251.4 crore in the same period a year ago.

Standalone net sales increased by 16.58 per cent to Rs 8,943.57 crore as against Rs 7,671.40 crore in the same period last fiscal.

The company's standalone sales in volume terms were at 1,27,484 units during the quarter as against 1,32,087 units in the year-ago period, down 3.48 per cent.

Tata Motors shares closed at Rs 589.55, down 0.39 per cent from previous close on BSE.