6 February, 2018, Moneycontrol.com
Tata Motors CEO and Managing Director Guenter Butschek today said the group does not spend towards CSR initiative rather lives it, which is a basic ingredient of the company’s success story.
Addressing a gathering of students at a business conclave here, Butschek said there is a serious dedication in the DNA of the company as far as the community contribution is concerned.
"Not spending (towards) CSR but living CSR is a basic ingredient of the company’s success factors," he said.
Speaking about his initial journey at Tata Motors, he said it was like opening a new chapter in the book of a company which has a long heritage with a great pride.
Butschek got to steer Tata Motors at a time when the company reported a standalone net loss of Rs 200.86 crore for the October-December quarter of 2015-16.
"To get an organisation really changed, it possibly takes you one night to sleep over it… but the moment you discover the opportunities, your heart goes with it, and that’s pretty much what happened to me when I was introduced to the whole challenge," Butschek said.
Butschek, who was appointed the CEO and MD of Tata Motors in January 2016, said the company’s success story is reflective in the result announced yesterday which saw huge jump in profit and revenues.
Tata Motors Group reported over 11-fold jump in net profit at Rs 1,215 crore for the December quarter from Rs 111.6 crore in the year-ago period.
Group revenue rose 16.1 per cent to Rs 74,156 crore in the reporting quarter.
On standalone basis, Tata Motors India returned to the black with a net profit of Rs 183.65 crore on a revenue of Rs 16,102 crore. It reported a loss of Rs 1,052.13 crore in the year-ago period and net loss of Rs 295.30 crore in the September quarter.
He was speaking at business conclave at Shri Ram College of Commerce here.