Tata Motors reported a consolidated net profit of ₹2,957.71 crore for the third quarter ended December 31 on Wednesday (Q3FY23). The firm recorded a net loss of ₹1,516 crore in the previous fiscal year (Q3FY22) and ₹944.61 crore in the prior September quarter (Q2FY23).
The consolidated income from operations of the Mumbai-based firm increased by 22.5% to ₹88,488.59 crore from₹ 72,229 crore the previous year.
Analysts expect the domestic automaker to have a combined net profit of ₹285 crore.
JLR revenue for the third quarter was £6.0 billion, up 28% from Q3FY22 and up 15% sequentially due to improved supply, a good model mix, and pricing.
On Wednesday, Tata Motors’ stock fell 0.84% to ₹418.60 on the NSE.