Tata Motors slips after weak Q1 results

Tata Motors fell 1.25% to Rs 387.65 at 9:17 IST on BSE after consolidated net profit fell 48.7% to Rs 2768.91 crore on 5.5% fall in total income to Rs 61326.75 crore in Q1 June 2015 over Q1 June 2014.

The company announced the result after market hours on Friday, 7 August 2015.

Meanwhile, the BSE Sensex was up 2.21 points, or 0.01%, to 28,238.60.

On BSE, so far 1.13 lakh shares were traded in the counter, compared with an average volume of 7.40 lakh shares in the past one quarter.

The stock hit a high of Rs 391.40 and a low of Rs 383.75 so far during the day. The stock hit a 52-week high of Rs 605.32 on 3 February 2015. The stock hit a 52-week low of Rs 366.25 on 28 July 2015.

The stock had underperformed the market over the past one month till 7 August 2015, falling 9.09% compared with 0.23% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 19.59% as against Sensex's 6.16% rise.

The large-cap company has an equity capital of Rs 577.44 crore. Face value per share is Rs 2.

Tata Motors said that its consolidated revenue (net of excise) fell 5.66% to Rs 61020 crore in Q1 June 2015 over Q1 June 2014. Tata Motors attributed the decline in revenue to lower sales and weaker geographic mix at its British luxury car unit Jaguar Land Rover (JLR). As per International Financial Reporting Standards (IFRS), JLR's net profit dropped 29% to GBP 492 million on 6.55% decline in revenue to GBP 5,002 million in Q1 June 2015 over Q1 June 2014. JLR's earnings before interest, taxation, depreciation and amortization (EBITDA) fell 24.47% to GBP 821 million in Q1 June 2015 over Q1 June 2014.

Tata Motors' revenue (net of excise) on standalone basis jumped 20.66% to Rs 9297 crore in Q1 June 2015 over Q1 June 2014. Tata Motors' standalone business mainly comprises of its commercial vehicles and passenger vehicles business in India.

Tata Motors is the leader in commercial vehicles, and among the top in passenger vehicles with products in the compact, mid-size car and utility vehicle segments. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is JLR, acquired in 2008.

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