Tata Motors in reverse gear as May global sales decline

Tata Motors announced May 2013 global sales on Saturday, 15 June 2013.

Meanwhile, the S&P BSE Sensex was down 38.99 points or 0.2% at 19,138.94.

On BSE, 2.03 lakh shares were traded in the counter as against average daily volume of 8.11 lakh shares in the past one quarter.

The stock hit a high of Rs 297.50 and a low of Rs 289.05 so far during the day. The stock had hit a record high of Rs 337.05 on 10 January 2013. The stock had hit a 52-week low of Rs 202.95 on 26 July 2012.

The stock had outperformed the market over the past one month till 14 June 2013, falling 1.2% compared with the Sensex's 2.76% fall. The scrip had also outperformed the market in past one quarter, sliding 1.35% as against Sensex's 2.01% fall.

The large-cap company has equity capital of Rs 643.72 crore. Face value per share is Rs 2.

Tata Motors' global wholesales, including Jaguar Land Rover, fell 14.89% to 81,783 units in May 2013 over May 2012. Global wholesales for Jaguar Land Rover rose 3.71% to 31,210 vehicles in May 2013 over May 2012. Jaguar wholesales jumped 62.62% to 7,061 units in May 2013 over May 2012. Land Rover wholesales fell 6.22% to 24,149 units in May 2013 over May 2012.

Global wholesales of all commercial vehicles - Tata, Tata Daewoo and the Tata Hispano Carrocera range fell 14.18% to 38,641 units in May 2013 over May 2012. Global wholesales of all passenger vehicles declined 15.51% to 43,142 units in May 2013 over May 2012. Global wholesales of Tata passenger vehicles dropped 43.1% to 11,932 units in May 2013 over May 2012.

Tata Motors' consolidated net profit declined 36.7% to Rs 3945.47 crore on 10.2% growth in total income to Rs 56262.82 crore in Q4 March 2013 over Q4 March 2012.

The fall in Tata Motors' bottom line in Q4 March 2013 was due to base effect. Tata Motors had accounted for a large tax credit in Q4 March 2012. Tata Motors' British luxury car unit Jaguar Land Rover (JLR) had accounted for tax credit of 225 million pounds (Rs 1794 crore) in Q4 March 2012 for past income tax losses. Tata Motors' profit before tax (PBT) rose 6.1% to Rs 4694 crore in Q4 March 2013 over Q4 March 2012.

Tata Motors attributed revenue growth to strong demand, growth in volumes and favourable market mix at JLR and favourable operating foreign exchange at the British luxury car unit.

Tata Motors is India's largest automobile company, with consolidated revenues of Rs 1,88,818 crore ($ 34.7 billion) in 2012-13. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, Spain, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 7.5 million Tata vehicles plying in India, Tata Motors is the country's market leader in commercial vehicles and among the top in passenger vehicles. It is also the world's fourth largest truck and bus manufacturer. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia, South America, CIS and Russia.

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