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Tata Motors net soars threefold to Rs 2,502 crore

Press Trust of India  |  Mumbai 

Homegrown auto major today reported a threefold jump in consolidated profit at Rs 2,502 crore in the quarter to September from Rs 848 crore in same quarter last fiscal.

Consolidated grew 10.34 per cent to Rs 70,156 crore as against Rs 63,577 crore a year ago, said in a release.

The sales (including exports) of commercial and passenger vehicles stood at 1,52,979 units, a growth of 13.8 per cent. Medium and heavy commercial vehicle segment grew by 28 per cent, while ILCV surged 35 per cent and small commercial vehicle volumes rose 38 per cent, the company said.

Passenger vehicles grew 14.4 per cent over the same period last fiscal.

"After a challenging first quarter, has demonstrated impressive with month-on-month growth in sales and market share, enabled by a slew of new product launches and customer centric initiatives.

"With our turnaround plan in full action, we are seeing encouraging and we will continue to drive sustainable profitable growth to meet our future aspirations," Guenter Butschek, MD & CEO, said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 09 2017. 15:28 IST