Tata Motors has posted strong results for the third quarter of the fiscal year (ended December 31, 2013). It saw its third quarter net profit triple to their highest in a year-and-a-half on strong sales and profitability at Jaguar Land Rover (JLR).
Tata Motors beat forecasts and posted a 195% increase in net profit for the October-December quarter, of 48.05 billion rupees, its highest quarterly profit since March 2012.
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JLR retails in the quarter increased 27% year on year to 112,172 vehicles. This reflects strong demand for the new and refreshed Jaguar and Land Rover line up which saw particularly strong performances from the Jaguar XJ, XF, Range Rover and Range Rover Sport, JLR said.
JLR profit before tax for the third quarter increased to GBP842m, more than double last year’s level, on revenues of over GBP5.3bn.
JLR operating profit (EBITDA) stood at GBP955m in the quarter, up 79.2% on last year.
Commenting on the results, Jaguar Land Rover Chief Executive Officer, Dr. Ralf Speth said: “Our financial performance for this and the preceding quarters is a testament to the quality of Jaguar Land Rover’s award winning product offerings which continue to meet the exacting standards demanded by our customers around the world.”
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