Tata Motors fell 1.26% to Rs 380.15 at 9:26 IST on BSE after consolidated net profit surged 70.7% to Rs 3542 crore on 31.1% rise in revenues to Rs 56882 crore in Q2 September 2013 over Q2 September 2012.
The result was announced after market hours on Friday, 8 November 2013.
Meanwhile, the BSE Sensex was down 116.09 points, or 0.56%, to 20,550.06.
On BSE, 4.82 lakh shares were traded in the counter compared with average volume of 10.16 lakh shares in the past one quarter.
The stock hit a high of Rs 385.90 and a low of Rs 376.10 so far during the day. The stock hit a record high of Rs 400.70 on 6 November 2013. The stock hit a 52-week low of Rs 252.10 on 5 April 2013.
The stock had outperformed the market over the past one month till 8 November 2013, rising 9.80% compared with the Sensex's 3.42% rise. The scrip had also outperformed the market in past one quarter, rising 38.14% as against Sensex's 9.99% rise.
The large-cap company has an equity capital of Rs 643.72 crore. Face value per share is Rs 2.
Tata Motors said revenues grew despite weak operating environment in the India business, which was more than offset by increase in wholesale volumes and richer product and market mix at Jaguar Land Rover (JLR).
JLR wholesale and retail volumes for the quarter ended 30 September 2013 grew by 31.6% and 21.1%, respectively, over the corresponding period last year and stood at 101,931 units and 102,644 units, respectively. Following strong response to its new products and powertrain options, Jaguar wholesale and retail volumes grew by 91.6% and 56.5% to 18,834 units and 20,024 units, respectively, as against 9,832 units and 12,798 units, respectively, in the corresponding quarter last year. Strong response to the all-new Range Rover and continued strong growth in Evoque and other products, Land Rover wholesale and retail volumes stood at 83,097 units and 82,620 units (growth of 22.9% and 14.8% over corresponding quarter last year).
JLR's revenues for the quarter ended September 30, 2013 of 4,612 million pounds, represented a growth of 40.3% over 3,288 million pounds in the corresponding quarter last year. Operating margins for the quarter ended 30 September 2013 stood at 17.8%. Operating profit (EBITDA) of 823 million pounds in the quarter, represented a growth of 69.3% over 486 million pounds in the corresponding quarter last year. Continued strong revenue growth and operating performance were supported by increase in wholesale volume, richer product mix, launch of new Range Rover Sport, new Range Rover and Jaguar F-TYPE. The profit before tax for the quarter ended 30 September 2013 grew by 55.0% over the corresponding quarter last year to 668 million pounds (431 million pounds in the corresponding quarter last year). Profit after tax for the quarter grew by 66.2% over the corresponding quarter last year to 507 million pounds (305 million pounds in the corresponding quarter last year).
Tata Daewoo Commercial Vehicles registered net revenues of South Korean Won (KRW) 202 billion and recorded a net profit of KRW 4.4 billion in the quarter ended 30 September 2013, as compared to KRW 205 billion and KRW 0.5 billion, respectively, in the corresponding period last year.
Tata Motors Finance, the company's captive financing subsidiary, registered net revenue from operations of Rs 733 crore and reported a profit after tax of Rs 41 crore for the quarter ended 30 September 2013, as compared to Rs 654 crore and Rs 69 crore, respectively, in the corresponding period last year.
Tata Motors is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world's fifth largest truck manufacturer and fourth largest bus manufacturer.
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