Tata Motor’s strong performance of the domestic business
Tata Motor’s improved business reported by arm Jaguar Land Rover, and cooling raw material inflation are likely to favor the firm as the company is expected to post a consolidated profit for the first time in 7 quarters in the Q3 that ended December 2022. Consolidated sales are expected to rise over 14% year on year (YoY) and 3% sequentially to Rs 82,738 crore. Tata Motors Q3 Results Preview: Co to post profit after 7 quarters; Here’s what else to expect.
Tata’s Arm Jaguar Land Rover Automotive Plc (JLR) reported a strong 28% growth in revenue to 6.04 billion pound sterling, and earnings before interest and tax (EBIT) margin expanded a sharp 230 basis points YoY to 3.7%. EBITDA margin, however, dipped 10 bps to 11.9%.
The firms’ standalone net profit for the third quarter jumped nearly 3-fold to Rs 506.19 crore, and revenue increased 28% YoY to Rs 15,794 crore.
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