Tata Motors Q2 Results 2023 Expectations : Big news is coming out about the country’s automobile sector giant Tata Motors. Tata Motors is now recovering from losses. Tata Motors on Wednesday registered its stupendous first quarter profit after two years on rising demand for passenger cars as well as medium and heavy commercial vehicles. Know how much was earned..
Tremendous earnings in the third quarter
The Mumbai-headquartered Tata Motors has reported a net profit of ₹2,957.71 crore for the third quarter ended December (Q3FY23). It may be noted that the company had reported a net loss of ₹1,516 crore in the year-ago period (Q3FY22) and ₹944.61 crore in the previous September quarter (Q2FY23) respectively. Jaguar Land Rover’s parent reported revenue from operations at Rs 88,488.59 crore, up 22.5 per cent from Rs 72,229 crore in the year-ago period.
Margin increased 90 basis points
According to media reports, the net profit of this auto company has increased by 11 percent to ₹ 9,900 crore in the form of earnings before EBITDA. Its margin has increased by 90 basis points to 11.1 percent. So that the indigenous auto major posted a consolidated net profit of ₹285 crore.
JLR made good money
For the third quarter, JLR’s revenue reached £6.0 billion. Which was 28 percent more than Q3FY22. Meanwhile, the earnings before interest and tax (EBIT) margin rose 230 bps year-on-year to 3.7 per cent. The EBITDA margin, however, declined by 10 bps to 11.9 per cent.
View Commercial Vehicles Revenue
On the other hand, Tata’s commercial vehicles revenue grew by 22.5 per cent to ₹16.9 crore in the third quarter over Q3FY22. Compared to Q3FY22, Tata Passenger Vehicles’ revenue grew by 37 per cent to ₹11.7 crore.
Tata Motors buys Ford plant
Prior to this, Tata Motors has taken over Ford India’s manufacturing plant located in Sanand, Gujarat. Tata Motors has done this acquisition through its subsidiary. The company has made its information public. Tata Passenger Electric Mobility Limited (TPEML) has completed the acquisition of Ford India Private Limited (FIPL) for Rs 725.7 crore.
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