March 20, 2018

Tata Motors's consolidated Q1 net profit up more than 41%

10 August 2017, 02:48 | Rudolph Thomas

Land Rover saw sales of 33,110 vehicles in July up 5.8% as compared to July 2016

Land Rover saw sales of 33,110 vehicles in July up 5.8% as compared to July 2016

Last year, in the first quarter, the net sales were worth ₹65,115 crores. The performance also reflects significant de-growth in the medium and heavy commercial vehicle segment, flat light commercial vehicle segment and moderate growth in passenger vehicle segment, the company added.

"The sales (including exports) of commercial and passenger vehicles for the quarter ended June 30, 2017, stood at 111,860 units, a de-growth of 11.8 per cent, as compared to the corresponding quarter past year", the statement added.

Revenue (net of excise) of the standalone (domestic) business stood at ₹9,207 crore, as compared to ₹10,393 crore for the year-earlier period.

JLR's retail sales for the quarter stood at 1.37 lakh units, up 3.5 percent from the first quarter of FY 17. The change in profit is estimated because of the changes in the pension plan at the United Kingdom unit of Tata Motors, known as Jaguar - Land Rover. The company registered a profit of ₹32oo crores, up 41% from ₹2260 crores in the same period a year ago.

In the passenger vehicles business, the company's new cars- Tiago, Hexa, Tigor- continue to show strong sales. Bookings for the SUV are being now accepted across the company's 25-outlet network in the country with the first units set be delivered in November 2017 after the SUV is officially launched here. Our focus on top line, market share growth, major cost reduction initiatives and efficiency improvements have been significantly enhanced and accelerated in the last few months, " Guenter Butschek, MD & CEO of Tata Motors, said.

The Jaguar Land Rover is known as a "family SUV", the new Discovery will be powered by a 3-litre TDV6 190 kW diesel and a 3-litre Si6 250 kW petrol engine.

Demand grew by 30% in China, helped by the success of the market-specific Jaguar XFL, which boosted XF sales by 22%.

The one-time gain of Rs 3,609 crore (437 million) relating to the changes made to the JLR pension plans.

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