Tata Motors to ramp-up Nano production from April

Written by: Pti
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Mumbai, Feb 11 (PTI) Tata Motors which today reporteda 2.46 per cent increase in net profit at Rs 410-crore in thequarter ended December 2010, said that it plans to ramp-up theproduction of its small car, the Nano, next fiscal.

Net sales of the company during the October-Decemberquarter stood at Rs 11,458.95-crore as against Rs 8,923.99-crore in the corresponding period last fiscal.

During the period under review, consumption of rawmaterials and components cost stood at Rs 6,498.97-crore asagainst Rs 4,975.29-crore, it added.

Vehicle sales during the third quarter were 1,94,085units as against 1,65,413 units in the same period lastfiscal.

The Jaguar Land Rover business continued to showstrong profitability, with healthy volumes in Q3 reporting aPAT of Rs 1,958-crore.

Both wholesale and retail volumes improved favourablyas compared to the corresponding quarter last year, on theback of improved market conditions and good response to theproduct portfolio, the company said.

However, Tata Daewoo Commercial Vehicles Co. Ltdreported a loss of Rs 4.4-crore in Q3 FY 2010-11 on accountof lower volumes and cost pressures.

Tata Motors Finance Limited, the company''s captivefinancing subsidiary, reported a net profit of Rs 33-croreduring the quarter.

Addressing reporters here, Tata Motors'' ChiefFinancial Officer, C Ramakrishnan, said that the small car''sproduction is expected to reach 12,000-15,000 units per monthfrom April against about 10,000 units now. .

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