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Tata Motors prifits up

Tata Motors reported a net profit of Rs 400.14 crore for the third quarter of this fiscal, a turnaround from the Rs 263.26-crore net loss in the corresponding period last year. Revenue almost doubled to Rs 8,979.9 crore from Rs 4,759. 62 crore. The company sold 1.65 lakh vehicles during the quarter, 68 per cent up over 98,760 units last year.

However, on a sequential basis, the contraction of operating margin brought down net profit from the peak of Rs 729.14 crore in the preceding quarter.

It was primarily the turnaround in the commercial vehicle segment which grew 89 per cent year-on-year that drove the company back to the profit zone. Market share grew to 64.3 per cent with 93,520 units sold during the quarter. The medium and heavy commercial vehicle segment which was the worst hit during the downturn saw a 121 per cent growth while light commercial vehicles maintained a 70 per cent plus growth rate.

On the passenger vehicle front, the launch of Indigo Manza and Sumo Grande Mark II along with growing sales of the Nano and Indica Vista helped sales grow 46 per cent at 61,593 units. Coupled with sales of ally, Fiat India, and Jaguar Land Rover, Tata Motors' market share in the passenger vehicle segment is now 13.1 per cent.
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