25 July, 2006
Tata Motors today reported Revenues (net of excise) of Rs. 5783.41 crores for the quarter ended June 30, 2006, of the financial year 2006-07, an increase of 48% compared to Rs. 3907.50 crores in the corresponding period of 2005-06. Profit Before Tax was Rs. 498.25 crores, an increase of 38% over Rs. 360 crores, while Net Profit increased by 40% to Rs. 381.85 crores, compared to Rs. 272.67 crores in the corresponding period of the previous year.
During the quarter under review, the Company witnessed significant increase in all its input costs, interest rates and the general inflammatory pressures, which it expects to continue throughout the year.
The Company’s Consolidated Revenues (net of excise) at Rs. 6770.94 crores recorded an increase of 51% as against Rs. 4493.11 crores in the corresponding period of the previous year. The Consolidated PAT at Rs. 381.67 crores, as against Rs. 261.51 crores in the corresponding period of the previous year recorded a growth of 46%.
The sales volume for the quarter (including exports) at 1,26,394 vehicles grew by 44% over 87,492 vehicles in the corresponding period last year. Domestic sales of commercial vehicles grew by 69% to 63,082 units. Sales volumes in the commercial vehicle segment for the corresponding period in the previous year were significantly impacted due to unanticipated difficulties in vehicle certifications and procurement of some critical components. Domestic sales of passenger vehicles at 50,151 units posted a growth of 22%.
The Company exported 13,161 vehicles, achieving a growth of 45% over 9,073 units in the corresponding period of the previous year.
In commercial vehicles, Tata Motors has doubled the capacity of its small commercial vehicle, the Tata Ace, to 60,000. The Ace continues to post strong growth. It is being gradually extended across the country, and has also been launched in Sri Lanka. During the quarter, the Company has also launched a new range of its premium SUV, the Tata Safari. It has generated an enthusiastic response.
The audited financial results for the quarter ended June 30, 2006, are enclosed.