Tata Motors‘ Jaguar Land Rover Automotive said third quarter revenue was up 22% year on year to GBP7.4bn.
Revenue for the nine months to 31 December 2023 rose 35% to a record GBP21.1bn.
Go deeper with GlobalData
Third quarter profit before tax and exceptional items (PBT) was GBP627m, up from GBP265m a year ago. EBIT margin was a positive 8.8% versus 3.7% a year ago.
JLR said the higher profitability year on year reflected favourable volume and reduced chip costs, offset partially by unfavourable fixed marketing, administration and FX revaluation compared to a year ago.
Profit after tax in the quarter was GBP592m compared to GBP261m a year ago.
The automaker said it was on track to achieve its profitability and cashflow targets.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe EBIT margin for FY24 was expected to be over 8%.
