Indian passenger car and commercial vehicle manufacturer Tata Motors has recorded its highest revenue, profits and vehicle sales volumes in 2003-2004. Net profits were Euro 152.9 million (INR 8.103 billion), a rise of 170 percent over the previous year.
Total sales increased 42.9 percent to Euro 2.923 billion (INR 154.935 billion) from Euro 2.045 billion (INR 108.407 billion) in 2002-2003 while sales volume went up by 42.9 percent from 219,859 units to 314,259 units of vehicles in 2003-2004.
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Much of the bottom line growth came from cost cutting measures and streamlining of operations that has been taking place at Tata Motors in recent years. The company has sprung back from a loss-making scene three years back when it recorded a hefty near €100 million loss. The addition of new body style on the Indica platform with the notchback Indigo and a facelift of the bread-and-butter hatchback Indica have helped to make the passenger car division more profitable.
The commercial vehicle unit has also turned around, riding on infrastructure and construction growth.
Further, net profits went up due to improved efficiency. Commercial vehicle sales grew 43.7 percent to 152,195 units while passenger cars sales spurted 34.4 percent to 140,018 units.
Tata also took over Daewoo Commercial Vehicles this year – an acquisition that analysts say will help it even out the cyclical nature of the industry in India.
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By GlobalDataDeepesh Rathore / Tilak Swarup
