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Tata Motors Q2 net more than doubles

Increased volumes, low raw material costs and better operating margins helped Tata Motors post a net profit of Rs 729 crore for the July-September quarter, more than twice the Rs 347 crore clocked last year.

Total income grew 13 per cent to Rs 7,979 crore, propelled by a 17 per cent increase in vehicle sales at 1.58 lakh units for the quarter.

Meanwhile, Tata Motors has fully repaid its $3-billion bridge loan taken to acquire Jaguar and Land Rover. “Tata Motors and Jaguar Land Rover have been facing tough challenges in the past few quarters. We managed to extinguish the burden of $3 billion aided by the turn in global liquidity,” said Mr Kant.

The company’s commercial vehicle segment grew 21 per cent to 89,655 units during the quarter while passenger vehicles, including Fiat and Jaguar Land Rover products, grew 27 per cent to 60,917 units
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