Tata Motors Q1 – Net profit rises 40%
Financial Express: Tata Motors reported its Q1 numbers today with a 40% rise in net profit. The stock closed up in Mumbai and New York.
Highlights:
- 40% rise in net profit to Rs 381.85 crore.
- 69% growth in domestic sales of commercial vehicles and a 44% growth in exports.
- Revenue rose 49.1% to Rs 5869.32 crore.
- Sales volume for the quarter (including exports) at 1,26,394 vehicles grew by 44% over 87,492 vehicles.
Perhaps most importantly, Tata Motors is planning to make Tata Motors Finance a 100% subsidiary and is awaiting Reserve Bank of India (RBI) licence.