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Tata Motors net profit climbs in fiscal Q3'18

Tata Motors Ltd. consolidated net profit surged to 11.99 billion Indian rupees for its fiscal third quarter of 2018 from 937.7 million rupees in the same period last year, as net revenue increased 16.1%.

Consolidated net revenues for the quarter ending Dec. 31, 2017, came in at 741.56 billion rupees, up from from 649.43 billion rupees in the fourth calendar quarter of 2016.

On a stand-alone basis, Tata Motors' net revenue was 161.02 billion rupees, up 58.6% as overall wholesale sales increased 31% to 172,952 units.

The company's Jaguar Land Rover subsidiary posted net revenue of £6.31 billion for the quarter, up 4.3%, as retail sales stood at 154,447, up 3.5% from the same prior-year period. The increase was driven by a 14.6% improvement in China and an 18.2% increase in overseas markets.

The company's stand-alone pretax profits came in at 2.01 billion rupees, from a net loss of 10.32 billion rupees, while Jaguar Land Rover's pretax profit stood at £192 million, down from £255 million.

As of Feb. 5, US$1 is equivalent to 64.05 Indian rupees.