Tata Motors on Friday reported an 8 per cent year-on-year increase in group global wholesales, including that of Jaguar Land Rover (JLR), at 3,61,361 units in the fourth quarter of FY23-24
Driven by an all-round strong performance, we expect Tata Motors to become earnings' positive in FY23 with a net profit of Rs 7,068 crore, said analysts at Sharekhan
The company guided for robust demand prospects (JLR order-book at 1.68 lakh units, up 13,000 units QoQ) coupled with healthy profitability going forward
Stocks to Watch Today: Bandhan Bank, BoB, Eicher Motors, Escorts, REC, SBI, Tech Mahindra and UCO Bank are likely to be in focus ahead of Q4 results; Delhivery and Venus Pipes IPOs close on Friday.
On a standalone basis, the automaker reported a net profit of Rs 413.35 crore in the period under review against a net profit of Rs 1,645.68 crore in the fourth quarter of 2020-21
The investments will be spread across the company's different verticals of commercial vehicles, passenger vehicles and electric vehicles, Group CFO P B Balaji said
The improvement in consumer sentiment, buoyancy in e-business, firming freight rates, reopening of schools and offices helped regenerate demand, says company's executive director
The group is making a transition towards sustainability across businesses which includes a clean mobility push at Tata Motors and its British luxury unit Jaguar Land Rover, N Chandrasekaran said