INSUBCONTINENT EXCLUSIVE:
4 min read Last Updated : Aug 01 2024 | 11:35 PM IST
Mumbai-based automaker Tata Motors has rung up a 74 per cent year-on-year rise in
consolidated profit after tax (PAT) for the first quarter of 2024-25 to Rs 5,566 crore, up from the Rs 3,203 crore in the same quarter last
year.
Revenues from operations for the April-June quarter were up 5.7 per cent to more than Rs 1.07 trillion.
Tata Motors beat Street
Brokerages had expected profit to come in around Rs 5,100 crore.
Shailesh Chandra, managing director, Tata Motors Passenger Vehicles and
general elections and intense heatwaves across the country
points), driven by favourable volumes, and mix and material cost improvements.
Revenues from commercial vehicles grew 5.1 per cent to Rs
17,800 crore and the Ebit margins improved to 8.9 per cent (up 240 basis points), benefiting from better realisations and savings on
material cost.
Revenues from passenger vehicles declined 7.7 per cent, reflecting the challenging market conditions, but the earnings
before interest, tax, depreciation and amortisation margin at 5.8 per cent was driven by material cost reductions.
The company said
global demand was likely to stay muted and it expected gradual improvement in domestic demand during the rest of the year due to continued
investment in infrastructure, a healthy monsoon, festival demand, and other indicators
quarter has carried forward the momentum of last year with all businesses continuing to deliver on their distinctive strategies
in Q1FY25 were down 1.1 per cent, while electric-vehicle volumes (at 16,600 units) decreased sharply by 13.9 per cent due to a sharp decline
in the fleet segment.
EV penetration is steady at 12 per cent, while compressed-natural-gas penetration has increased from 16 per cent in
vehicle business into TML Commercial Vehicles and merging the passenger vehicle, electric vehicle and Jaguar Land Rover and related
investments in the existing entity
scheme will further empower the respective businesses to pursue their differentiated strategies with greater agility and will enhance value
assets, liabilities and employees relating to the Commercial vehicle business) and all its related investments into TML Commercial Vehicles
Further, pursuant to the Scheme, the existing Passenger Vehicle business in Tataname.First Published: Aug 01 2024 | 6:38 PMIST
