Mexican Media Brands
Tata Profit Falls 37%
Tata Motors Ltd. netted 39.5 billion rupees ($702 million) in the fiscal fourth quarter ended March 31 compared with 62.3 billion rupees ($1.1 billion) a year earlier.
#economics
Share
Tata Motors Ltd. netted 39.5 billion rupees ($702 million) in the fiscal fourth quarter ended March 31 compared with 62.3 billion rupees ($1.1 billion) a year earlier.
Revenue grew 10% to 560 billion rupees ($10 billion) in the January-March period. Sales of Tata brand vehicles plummeted 31% to 197,100 units. But demand for Jaguar and Land Rover vehicles climbed 19% to 116,200 units.
JLR's quarterly revenue jumped 22% to 5.1 billion ($7.6 million), propelled by a 48% surge in China. But the unit's net earnings plunged 46% to 378 million ($570 million), largely because of a one-time tax gain of 225 million ($339 million) a year earlier.
The Tata brand's revenue dropped 32% to 111 billion rupees ($2 billion) in the quarter. The business swung to a 3.1 billion-rupee ($56 million) loss from a 5.7 billion-rupee ($101 million) profit a year earlier.
For the full fiscal year, the company's net income slid 27% to 98.9 billion rupees ($1.8 billion). Revenue rose 14% to 1.89 trillion rupees ($33.6 billion).
RELATED CONTENT
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.