August 11, 2014
Consolidated Profit grows to Rs. 5,398 crores
Consolidated Financial Results for the Quarter ended June 30, 2014
Tata Motors today reported Consolidated revenues (net of excise) of Rs.64,683 crores for thequarter, a growth of 38.2% over Rs.46,796 crores for the corresponding quarter of the previousyear, despite a continuing weak operating and economic environment in the standalonebusiness which was more than offset by strong demand for new products, growth in volumes,richer product mix and richer geographic mix at Jaguar Land Rover (JLR). The ConsolidatedProfit before tax for the quarter was Rs.7,528 crores, as compared to Rs.2,934 crores for thecorresponding quarter of the previous year and the Consolidated Profit after tax (post minorityinterest and share of profit / (loss) of associates (net)) for the quarter was Rs.5,398 crores ascompared to Rs.1,726 crores for the corresponding quarter of the previous year.
Tata Motors Stand-alone Financial Results for the Quarter ended June 30, 2014
The sales (including exports) of commercial and passenger vehicles for the quarter, stood at1,10,612 units, a decline of 28.3% as compared to the corresponding quarter of the previousyear. The revenues (net of excise) for the quarter stood at Rs.7,705 crores, as compared toRs.9,105 crores for the corresponding quarter of the previous year. Continued slowdown in theeconomic growth and other macro- economic parameters continued to impact the demand forthe entire auto industry in general and commercial vehicle industry in specific. The CommercialVehicle industry declined in the quarter compared to the corresponding quarter last year, led bya fall of around 10% in the cyclical M&HCV segment and around 26% in the LCV segment.However, during the quarter the Company has launched the all-new range of Tata ULTRAtrucks in the Intermediate and Light Commercial Vehicle (ILCV) range. These will come inseveral variants with payload capacity between 5 and 15 tonnes. In the Passenger VehicleBusiness, the Company under the umbrella of HorizoNext launched the all-new Tata Aria with VARICOR 2.2 litre engine and other value added features. Further, Company has started thepremiere and test drive events for the upcoming All-New Zest with extremely encouraging andpositive response from all the sections including auto journalists, auto enthusiasts and all thesections of media.
Profit before and after tax for the quarter ended June 30, 2014 was Rs.394 crores and Rs.394crores, respectively, against the Profit before and after tax of Rs.753 crores and Rs.703 crores,respectively, for the corresponding quarter last year. Profit before tax for the quarter endedJune 30, 2014, includes dividends from subsidiary companies of Rs1,549 crores (Rs1,537crores for the corresponding quarter last year).
Jaguar Land Rover Automotive plc Financial Results for the Quarter ended June 30, 2014
– (figures as per IFRS)
Jaguar Land Rover wholesale and retail volumes for the quarter grew by 27.1% and 22.0%,over the corresponding quarter last year and stood at 115,156 units and 115,596 units,respectively. This reflects solid global demand for the new and refreshed Jaguar and LandRover line up, particularly for the Range Rover, Range Rover Sport, Range Rover Evoque andthe Jaguar F-Type.
The strong sales volumes resulted in revenues of GBP 5,353 million for the quarter. Profitbefore tax increased to GBP 924 million for the quarter, reflecting the growth in volumes andrevenue with strong product and geographic mix.
Tata Daewoo – (figures as per Korean GAAP)
Tata Daewoo Commercial Vehicles Co. Ltd. registered net revenues of KRW 222 billion andrecorded a Net profit/(Loss) of KRW 4 billion for the quarter ended June 30, 2014, as comparedto KRW 240 billion and KRW 8 billion, respectively, in the corresponding period last year.
Tata Motors Finance
Tata Motors Finance Ltd, the Company’s captive financing subsidiary, registered net revenuefrom operations of Rs.675 crores and reported a Loss after tax of Rs.99 crores for the quarterended June 30, 2014, as compared to revenue of Rs.781 crores and Profit after tax of Rs.80crores, respectively, in the corresponding period last year. The results for the quarter have beenimpacted due to tightness in the financial market, stress in the business environment and theconsequent higher provision on account of Non-Performing Assets.
The Financial Results for the Quarter ended June 30, 2014, are enclosed.