Tata Motors' Consolidated Net Revenue up by 6.22%

Kolkata, Oct 31 (UNI) Tata Motors today reported a consolidated revenue (net of excise) of Rs 8,205.23 crores for the quarter ended September 30, an increase of 6.22 per cent over Rs 7,724.71 crore last year.

A Company release issued here stated that the consolidated Profit After Tax (PAT) was Rs 570.71 crores, compared to Rs 536.44 crores last year, an increase of 6.39 per cent.

The company's revenues (net of excise) on a standalone basis was Rs 6,672.65 crore for the quarter ended September 30, an increase of 1.33 per cent compared to Rs 6,585.20 crore last year, the release added.

Profit Before Tax (PBT) was Rs 621.19 crore, an increase of 5.93 per cent over Rs 586.39 crore last year, while the Net Profit was Rs 526.84 crore, an increase of 19.27 per cent over Rs 441.72 crore last year.

The quarter continued to witness high input costs, increased competitive activity and the high interest rate regime affecting retails in the domestic market in varying degrees between the commercial and passenger vehicles segments. They jointly made an impact on the operating margin of the company (net of foreign exchange gain) in this quarter.

The company also initiated multi-pronged action, including cost reduction initiatives and introduction of new products.

Consolidated revenue (net of excise), in the first half of 2007-08 was Rs 15,836.51 crore, registering an increase of 9.56 per cent as against Rs 14,454.26 crores in the first half last year.

The consolidated PAT was Rs 1,067.93 crore compared to Rs 918.11 crore, registering a growth of 16.32 per cent.

The company's revenues (net of excise) on a standalone basis was Rs 12,729.47 crore in the first half, an increase of 3.20 per cent compared to Rs 12,334.76 crore in the first half last year.

PBT was Rs 1,213.32 crore, an increase of 11.86 per cent over Rs 1,084.64 crore in the first half last year, while the Net Profit was Rs 993.60 crores, an increase of 20.65 per cent over Rs 823.57 crore in the first half last year.

During the first half, Tata Motors launched several new vehicles.

In passenger vehicles, the company introduced the Indigo LS, an entry level common rail diesel (DICOR) offering in the sedan range, expanded the long wheel base Indigo XL's range with the Indigo XL Classic, and launched an upgraded range of Tata Spacio, its entry level utility vehicle.

The company also introduced a new range of commercial vehicles for passenger transportation, the Magic and the Winger, which were expected to create new segments. The mini-truck, Ace, was introduced in Nepal.

The company improved its market share in medium and heavy trucks, but lost market share in the bus segment, mainly on account of certain supply chain shortages, which were expected to be made up in the second half.

In passenger vehicles, there was a marginal loss of market share following new entrants in a slowing market and delays in certain of the company's products introductions, which were expected to see corrections next year, the release added.

UNI