Tata Motors Q3 Results: Profit More Than Doubles, Beats Estimates
The automaker's consolidated net profit increased 138% to Rs 7,025 crore.
Tata Motors Ltd.'s profit rose in the third quarter on higher sales, beating consensus estimates significantly, as the company continued the streak of reporting profit for the fifth consecutive quarter.
The automaker's consolidated net profit increased 138% to Rs 7,025 crore, according to an exchange filing on Friday. That compares with the Rs 4,557-crore consensus estimate of analysts tracked by Bloomberg.
Tata Motors Q3 Earnings Highlights (Consolidated, YoY)
Revenue rose 25% to Rs 1.11 lakh crore (Bloomberg estimate: Rs 1,08,517 crore).
Ebitda increased 59% to Rs 15,333 crore (Bloomberg estimate: Rs 14,778 crore).
Margin expanded to 13.86% versus 10.89% (Bloomberg estimate: 13.6%).
Net profit up 138% to Rs 7,025 crore (Bloomberg estimate: Rs 4,557 crore).
Tata Motors' passenger vehicle sales rose 5% to 1.38 lakh units, while the commercial vehicle sales gained 1% to 96,526 units.
Sales of its British subsidiary, Jaguar Land Rover—excluding the China joint venture—rose 27% to 1.01 lakh units.
The company's management had already guided for a stronger performance in the second half of the current financial year, with a healthy order book at JLR, robust demand for heavy trucks and new products in the passenger vehicle portfolio.
Shares of Tata Motors closed 0.05% higher at Rs 878.80 apiece on the BSE before the results were announced, as compared with a 0.61% rise in the benchmark Sensex.
