In pre-market trading, Tata Motors’ shares exhibited strong performance, soaring nearly 7% to Rs 934. The robust financial results underscore the company’s effective strategies and resilience in the face of market dynamics.
Tata Motors, in its financial report on February 2, revealed a remarkable two-fold surge in consolidated net profit, reaching Rs 7,025 crore for the October-December quarter. The substantial growth from Rs 2,957.71 crore a year ago was attributed to robust demand for both passenger and commercial vehicles in India, sustained growth in Jaguar Land Rover models, easing raw material costs, strategic price hikes, and an improved product mix.
The company’s revenue experienced a significant upswing of 24.9 percent year-on-year, reaching Rs 110,577 crore compared to Rs 88,489 crore in the corresponding period last year, as disclosed in an exchange filing by Tata Motors.
The Q3 results surpassed analysts’ expectations, who had anticipated a 54 percent year-on-year growth in net profit to Rs 4,547 crore. Revenue estimates also projected a 22 percent increase to Rs 1,08,169 crore for the October-December quarter.
Tata Motors’ earnings before interest, taxes, depreciation, and amortization (EBITDA) demonstrated a notable 42.5 percent year-on-year surge, totaling Rs 15,333 crore. The operating margin expanded by 171 basis points, reaching 13.94 percent.
