Tata Motors back in black with net profit of Rs 3,043 crore in Q3

PTI, Jan 25, 2023, 5:40 PM IST

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Tata Motors on Wednesday reported a consolidated net profit of Rs 3,043 crore in the third quarter ended December 31, 2022, on account of robust sales across markets.

The Mumbai-based auto major had reported a net loss of Rs 1,451 crore in the October-December quarter of the previous fiscal.

Total income increased to Rs 88,489 crore in the period under review from Rs 72,229 crore in the year-ago period, Tata Motors said in a regulatory filing.

On a standalone basis, Tata Motors reported a net profit of Rs 506 crore in the third quarter, a jump of over two-fold, from Rs 176 crore in the October-December period of 2021-22.

Jaguar Land Rover revenues stood at 6 billion pounds, up 28 per cent as compared with the same period last year, reflecting better supplies, strong model mix and pricing, Tata Motors said.

Profit before tax in the third quarter stood at 265 million pounds, against a loss of 9 million pounds a year ago, it added.

Shares of the company on Wednesday ended 0.73 per cent down at Rs 419 apiece on the BSE.