July 31, 2007
Tata Motors Consolidated Net Revenue grows by 13% to Rs.7631.28 crores in 1st Qtr, 2007-08 Consolidated PAT up by 30% to Rs.497.22 crores
Tata Motors today reported Consolidated Revenues (net of excise) of Rs.7631.28 crores for the quarter ended June 30, 2007 of the financial year 2007-08, an increase of 13% over Rs.6733.32 crores in the corresponding quarter of 2006-07. The Consolidated PAT was Rs.497.22 crores, compared to Rs.381.67 crores in the corresponding quarter last year.
The company’s Standalone Revenues (net of excise) was Rs.6056.82 crores, an increase of 5% compared to Rs.5749.56 crores in the corresponding quarter last year. Profit Before Tax (PBT) was Rs.592.13 crores, an increase of 19% over Rs.498.25 crores in the corresponding quarter last year, while Net Profit increased by 22% to Rs.466.76 crores, compared to Rs.381.85 crores in the corresponding quarter last year. Steep increase in input costs and drop in the volumes of medium & heavy trucks impacted the operating margin of the company (net of foreign exchange gain) in this quarter.
The sales volume for the quarter (including exports) at 1,28,095 vehicles grew by 1% over 1,26,394 vehicles in the corresponding period last year. Vehicle sales in the domestic market were impacted, in varying degrees between the commercial and passenger vehicles segments, due to the high interest rate regime affecting retails. Domestic sales of commercial vehicles decreased by 2% to 61,633 units, while domestic sales of passenger vehicles at 52,573 units grew by 5%.
Tata Motors exported 13,889 vehicles during the quarter, a growth of 6% over 13,161 units in the corresponding quarter last year.
During the quarter, Tata Motors launched several new vehicles. In passenger vehicles, the company has introduced the Indigo LS, an entry level common rail diesel (DICOR) offering in the sedan range, expanded the long wheel base Indigo XL’s range with the Indigo XL Classic, and launched an upgraded range of Tata Spacio, its entry level utility vehicle. The company also introduced a new range of commercial vehicles for passenger transportation, the Magic and the Winger, which are expected to create new segments. The mini-truck, Ace, has been introduced in Nepal. Tata Motors has also received an order from the Delhi Transport Corporation to supply 500 state-of-the-art low-floor CNG-propelled buses, which will begin to be delivered from the second half of the financial year.
The audited financial results for the quarter ended June 30, 2007, are enclosed.