Indian Automaker Tata Motors’ Shares Rise
While trading stocks online or conventionally it is important to follow the performances of major players. Indian automobile manufacturer Tata Motors is a major player in the Indian stock scene, and the indigenous auto manufacturer has a major presence globally as well.
The fortunes of Tata Motors are improving as its shares rose 10% in the early trade on May 31, 2016. The company also reported a three-fold increase in consolidated net profit for the previous quarter that ended on March 31, 2016. The company had also posted Rs 1716.50 crores of net profit the last year in the corresponding quarter (1 crore = 10 million USD).
Improved Sales and Profits for Tata and Jaguar Land Rover
Tata Motors’ gross sales soared to Rs. 81,247.09 crores in the reviewed quarter, an 18.56% year-on-year rise. The company also owns the British company Jaguar Land Rover (JLR), whose profits rose to 472 million pounds, a rise of 56.3%. A year ago the profit was only 302 million pounds. This increase has been fueled by record sales experienced in the US, Europe and China. As a standalone company, it posted Rs 464.99 crores of net profit in the fourth quarter while it suffered a Rs. 1,164.25 crore net loss in the same quarter the previous year. Its standalone net sales were Rs. 12,459 crore, a significant improvement over the Rs. 10,676.19 crore in the previous year.
In the financial year that ended March 31, 2016 Tata Motors reported Rs 13986.29 crores of consolidated net profit which was a 0.03% reduction from the Rs 13991.02 crores a year ago. The company’s share price closed at Rs 458.20 which is an 8.95% increase.
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