Tata Motors posts marginal 3% growth in Net profit as JLR condition deteriorates further

Mumbai : Tata Motors today reported marginal 3% growth in consolidated revenue at Rs. 72,112 Crore  in the July-September quarter. While Jaguar & Land Rover (JLR) has registered 11% drop in Quarterly revenue to £5.6 billion strong 33% revenue growth by Tata Motors ltd (standalone) at Rs. 17.8 Crore. The company has posted a net profit of Rs.1009 Crore on consolidate basis and Rs.109 Crore on standalone basis.

“The Tata Motors domestic business continued to deliver strong improvement in operational and financial performance by implementing the Turnaround 2.0 strategy effectively. We have improved our market shares whilst delivering robust improvement in profitability in both the Commercial Vehicles and Passenger Vehicles and generated positive Free Cash flows. This strong performance in the face of an intensely competitive market situation augurs well for the future” said Tata Group Chairman N.Chandrasekharan.

In JLR, market conditions, particularly in China, have deteriorated further. To weather this volatile external scenario, we have launched a comprehensive turnaround plan to significantly improve our free cash flows and profitability. The leadership team at JLR is in mission mode to achieve the deliverables under this plan. With these concerted actions we remain committed to deliver an improved all-round performance from H2 FY 19. As we take these structural actions, we continue to remain focused on sustainable profitable growth. I am confident that Tata Motors Group is building the right business model and the requisite capabilities for delivering Competitive, Consistent and Cash Accretive Growth in the medium to long term” he added.