Tata Motors Ltd. reported fourth-quarter consolidated net revenue surged greater than threefold to ₹17,407.18 crore, from ₹5,407.79 crore within the year-earlier interval, propelled by a robust displaying at its Jaguar Land Rover (JLR) luxurious unit and a surge in tax credit score.
Consolidated income for the three months ended March 31 rose 13.5% year-on-year to ₹1,19,213.35 crore.
JLR logged “another record-breaking quarter” in Q4, the corporate mentioned. Revenue for the quarter rose 11% YoY to £7.9 billion, which was 6% greater on a sequential foundation.
“We have delivered a record financial performance for the company, generating free cashflow of £2.3 billion, enabling us to reduce net debt to £0.7 billion, JLR CEO Adrian Mardell was quoted as saying in a statement.
For FY24, Tata Motors’ consolidated net profit vaulted more than 13-fold to ₹31,399.09 crore, from ₹2,414.29 crore in the previous year. Full-year revenue climbed 27% to ₹4,34,984.12 crore.
On a standalone basis, Tata Motors’ fourth-quarter net profit slid 21% YoY to ₹2,126.40 crore.
Full-year standalone net profit rose almost threefold to ₹7,902.08 crore, from ₹2,728.13 crore.
“It is pleasing to report the FY24 results during which Tata Motors Group delivered its highest-ever revenues, profits, and free cash flows,” Tata Motors Group CFO P.B. Balaji advised contributors on a post-earnings name. “The Indian business is now debt free and we are on track to become net automotive debt free on a consolidated basis in FY25,” he added.
“The businesses are executing well on their distinctive strength and therefore we are confident of sustaining this strong performance in the coming year,” Mr. Balaji noticed.
“We remain cautiously optimistic on domestic demand over the full year and expect H1 to be relatively weaker,” the automaker mentioned within the assertion, commenting on the outlook for the present 12 months. “The premium luxury segment demand is likely to remain resilient despite emerging concerns on overall demand. Despite this we are confident of delivering a strong performance in FY25,” it added.
Tata Motors plans to separate its passenger automobiles enterprise from its industrial automobiles division and make them two individually listed firms.
The Board has really helpful a remaining dividend ₹6 per share of ₹2 every (₹3 regular dividend and ₹3 particular dividend).
