Tata Motors sees 3-fold jump in net profit at Rs 17,528 crore in Q4
New Delhi, May 10
Tata Motors on Friday reported over three-fold jump in consolidated net profit at Rs 17,528.59 crore in the fourth quarter ended March 31, 2024, riding with all its three auto businesses delivering a strong performance, specially the British arm Jaguar Land Rover.
The company had posted a consolidated net profit of Rs 5,496.04 crore in the same quarter of the previous fiscal, Tata Motors said in a regulatory filing. Total consolidated revenue from operations stood at Rs 1,19,986.31 crore, as compared to Rs 1,05,932.35 crore in the year-ago period.
In Q4 FY24, Tata Motors said all three auto businesses delivered strong performance. The company’s British arm Jaguar Land Rover had “another record-breaking quarter in Q4 FY24.Revenue for the quarter was 7.9 billion pounds, up 11 per cent versus Q4 FY23”, Tata Motors said.
JLR’s Profit After Tax (PAT) in Q4 was 1.4 billion pounds as against a profit of 259 million pounds in the same quarter a year ago, it added.
PB Balaji, CFO, Tata Motors Group said: “In FY24, the Tata Motors delivered its highest-ever revenues, profits, and free cash flows. The India business is now debt-free, and we are on track to become net automotive debt-free on a consolidated basis in FY25.”
The Board of Directors have recommended a final dividend of Rs 3 per ordinary share and Rs 3.10 per ‘A’ ordinary share and a special dividend of Rs 3 per ordinary share and Rs 3.10 per ‘A’ ordinary share subject to approval by the shareholders.
