Tata Motors profit surges

Posted By: Staff
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Mumbai, May 28 (ANI): Tata Motors, India's top vehicle maker, beats market estimates with a surge in March quarter earnings, helped by rising sales and profitability at its Jaguar Land Rover (JLR) unit.

The leading maker of trucks and buses is riding a surge in demand at home, but said reviving interest in the United States and growth in China would be key to boosting sales.

The company earned 92,000 crore rupees in the three months ended March 31, and earned a profit of 21,200 crore.

"Tata Motors grew and posted the turnover of 92,000 crore compared to 70,800 crore previous fiscal year, reflecting a growth of 3.05 per cent," said Aditya Bhat, Managing Director, Tata Motors.

The company, whose products include the ultra-cheap car Nano, had reported global sales in the quarter ended March rose 66 percent to 275,194 vehicles.

"We have made tremendous progress on product profile both in terms of passenger cars as well as commercial vehicles. On the commercial vehicle side, let me reiterate, we are still somewhat a newcomer," said Carl-Peter Forster, Group Chief Executive Officer, Tata Motors.

Demand for trucks, which are the company's mainstay, have been picking up after a sluggish first half of 2009/10.

The sales of JLR, which contributes about half of Tata Motors revenues, doubled to 57,004 units, thanks to reviving demand in Europe, North America and China. (ANI)

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