Tata Motors Q4 results: Net profit rises over three-fold to Rs 17,407 cr

Tata Motors Q4FY24 results: The board of directors recommended a final dividend of Rs 6 per ordinary share of Rs 2 each (Rs 3 normal dividend and Rs 3 special dividend)

Auto major Tata Motors on Friday reported a consolidated net profit of Rs 17,407.18 crore for the quarter ending March 31 (Q4) in the financial year 2023-24 (FY24). This was a staggering 222 per cent growth in profit compared to Rs 5,407.79 crore reported during the same period last year. Sequentially, profit grew 49 per cent from Rs 11,666.07 crore in Q3.

The company's revenue from operations was Rs 1.19 trillion, a 13.5 per cent increase year-on-year (Y-o-Y) from Rs 1.05 trillion. Sequentially, revenue rose 8.6 per cent from Rs 1.10 trillion.

In April, Tata Motors recorded a 12 per cent increase in total domestic dispatches, amounting to 76,399 units compared to 68,514 units in April 2023.

The company's subsidiary, Jaguar Land Rover (JLR), maintained its strong financial performance trajectory in the financial year, achieving another record-breaking quarter in Q4 FY24. JLR's revenue for the quarter stood at 7.9 billion British pounds, marking an 11 per cent increase compared to Q4 FY23 and a six per cent rise compared to Q3 FY24. Furthermore, JLR's revenues for FY24 reached 29.0 billion British pounds, marking its highest ever full-year revenue and a remarkable 27 per cent increase compared to the previous year.

For the entire financial year, Tata Motors' net profit reached Rs 37,764.33 crore, a significant surge from Rs 479.20 crore reported at the end of FY23. The company's revenue from operations also witnessed impressive growth, reaching Rs 4.35 trillion compared to Rs 3.43 trillion, signifying a 27 per cent growth Y-o-Y.

Commenting on the results, P B Balaji, group chief financial officer, said, “It is pleasing to report the FY24 results, during which Tata Motors Group delivered its highest-ever revenues, profits, and free cash flows. The India business is now debt-free, and we are on track to become net automotive debt-free on a consolidated basis in FY25. The businesses are executing well on their distinct strategies and, therefore, we are confident of sustaining this strong performance in the coming years.”

The company's board of directors recommended a final dividend of Rs 6 per ordinary share of Rs 2 each (Rs 3 normal dividend and Rs 3 special dividend).

Shares of Tata Motors on Friday closed at Rs 1,046.85, up 1.62 per cent from the previous close.