Tata Motors has slipped almost 9% to Rs 254 in opening trades after reporting a 30 basis points decline in EBIDTA (earnings before interest, taxes, depreciation, and amortization) margins for Q4 to 14.3%. The market expected a jump of over 100 basis points. One basis point is one hundredth of a percentage.
However, India's largest commercial vehicle maker had reported an over two-fold surged in consolidated net profit at Rs 6,234 crore for the fourth quarter ended March 2012, on back of strong show by Jaguar Land Rover (JLR) and tax credit of Rs 1,826 crore. JLR contributed 91% to Tata Motors’ net profit.
The company had a net profit of Rs 2,637 crore in previous year quarter. The consolidated net revenues for the quarter jumped 44.3% at Rs 50,908 crore too, largely driven by JLR.
A combined 1.27 million shares have changed hands on the counter in opening deals on both the exchanges.
Tata Motors DVR too, slipped 11% to Rs 137.50 on the National Stock Exchange, with a combined around 2 million shares changed hands on the counter on the NSE and BSE.
