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Tata Motors Q2 Results Highlights: Tata Motors declared its Q2 results today. The firm posted a net profit of Rs 3,764 crore. The firm’s net profit rose 17.5 percent, sequentially.
PB Balaji, Group Chief Financial Officer, Tata Motors said, “It is pleasing to see all the businesses deliver on their well-differentiated plans this quarter. With a strong product pipeline, a seasonally stronger H2, and continued focus on cash accretive growth, we are confident of sustaining this momentum.”
Tata Motors CFO PB Balaji announced during the company’s earnings call that Tata Passenger Electric Mobility Ltd (TPEM) and Jaguar Land Rover Plc (JLR) have entered into a Memorandum of Understanding (MoU) for the licensing of JLR’s Electrified Modular Architecture (EMA) platform for a royalty fee for the development of TPEM’s ‘premium pure electric vehicles’ series ‘Avinya’.
"With a strong product pipeline, a seasonally stronger H2 and continued focus on cash accretive growth, we are confident of sustaining this momentum," said PB Balaji, group chief financial officer at Tata Motors
— “We welcome India's FTA with the UK,” says Tata Motors CFO
— "Cannot comment on government's plans to cut import duties on EVs until there is a formal announcement by the government,” he adds
— “Have started trial production at our Sanand 2 plant which we acquired from Ford Motors. Will start to operationalize it in Q4 of this financial year,” Tata Motors CFO PB Balaji said.
— “Our current capacity of passenger vehicles is 55,000 units. The addition of Sanand 2 plant will add another 30,000 units to our total capacity,” he added.
-Indian Energy Exchange (IEX) on November 20 reported a 21.4 percent year-on-year increase in consolidated net profit at Rs 8,646 crore for the September quarter of the current financial year on higher revenues.
-Its revenue increased 14 percent to Rs 10,853.26 crore from the year-ago period. The company's total income grew 16.8 percent to Rs 13,297.40 crore in the quarter under review from a year ago year.
-The company's EBITDA (earnings before interest, taxes, depreciation, and amortisationrose to Rs 12,346.32 crore from Rs 10,497.13 crore in the year-ago quarter.
-Tata Motors reported a consolidated net profit of Rs 3,764 crore on November 2, for the second quarter that ended on September 30, 2023.
-The homegrown automaker is now back in the black. It had posted a net loss of Rs 898 crore in the corresponding quarter last year.
-According to industry analysts, the company has become profitable due to a pick-up in volumes in the domestic market, softening commodity prices, JLR's volume ramp-up, and improved operating leverage.
PB Balaji, Group Chief Financial Officer, Tata Motors said, “It is pleasing to see all the businesses deliver on their well differentiated plans this quarter. With a strong product pipeline, a seasonally stronger H2 and continued focus on cash accretive growth, we are confident of sustaining this momentum.” Read here
We remain optimistic on demand despite external challenges and anticipate a moderate inflationary environment. We aim to deliver a stronger performance in H2, due to a healthy order book at JLR, strong demand for heavy trucks in CV and exciting new generation products in PV. Our financial performance is expected to improve further owing to a richer mix, continued low-break-even in JLR, execution of demand-pull strategy in CV and improving profitability in PV/EV, says automaker in a regulatory filing
JLR'srevenue of 6.9 billion pounds in Q2 and record first half revenue of 13.8 billion pounds, up 30 percentand 42 percent, YoY, respectively driven by higher wholesales, better mix, cost reductions and investment in demand generation.
-Tata Motors EBITDA in Q2 stood at Rs 13,767 crore when compared to the CNBC-TV18 Poll Of `13,681 crore
-Margins were at 13.1 percent as opposed to the CNBC-TV18 Poll Of 12.8 percent
-Net Profit At Rs 3,764 crore Vs a Loss Of Rs 945 crore (YoY)
-Revenue grew by 32 percent and stood At Rs 1.05 lakh crore
-Tata Motors declared its Q2 results today, the firm posted a net profit of Rs 3,764 crore.
-The firm's net profit rose 17.5 percent, sequentially.
-Revenue from operations rose 32 percent to Rs 1.04 lakh crore
Adani Enterprises on November 2 reported its consolidated net profit at Rs 227.82 crore, down 50.57 percent from Rs 460.94 crore in the same quarter last year. Decreasing coal prices was key factor hurting the company's profits. Read here
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