- By Aditya Pratap Singh
- Fri, 10 May 2024 05:37 PM (IST)
- Source:PTI
Tata Motors Q4 Result: Tata Motors recorded a more than three-fold jump in consolidated net profit to Rs 17,528.59 crore for the fourth quarter ended March 31, 2024, on the back of a strong performance by all its three auto businesses, especially the British arm Jaguar Land Rover. In a regulatory filing, Tata Motors said it had posted a consolidated net profit of Rs 5,496.04 crore in the same quarter last fiscal. Total consolidated revenue from operations stood at Rs 1,19,986.31 crore, compared to Rs 1,05,932.35 crore in the year-ago period.
Tata Motors said all three auto businesses performed strongly in Q4 FY24. Tata Motors said its British arm Jaguar Land Rover "recorded another record-breaking quarter in Q4FY24. Revenue for the quarter stood at £7.9 billion, up 11 percent compared to Q4 FY23.
It said JLR's profit after tax (PAT) in Q4 was £1.4 billion, compared to £259 million in the same quarter a year ago. The Board of Directors has recommended a final dividend of Rs 3 per ordinary share and Rs 3.10 per 'A' ordinary share and a special dividend of Rs 3 per ordinary share and Rs 3.10 per 'A' ordinary share, subject to the approval of the shareholders.
The company said consolidated net profit for the fiscal year ending March 31, 2024, stood at Rs 31,806.75 crore, compared to Rs 2,689.87 crore in the previous fiscal.
In FY24, total consolidated revenue from operations was Rs 4,37,927.77 crore, while in FY23 it was Rs 3,45,966.97 crore.
PB Balaji, Chief Financial Officer of Tata Motors Group, said that in FY2024, Tata Motors Group delivered its highest-ever revenue, profit, and free cash flow.
"The India business is now debt-free, and we are on track to become net automotive debt-free on a consolidated basis in FY25. The businesses are executing well on their distinct strategies and therefore, we are confident of sustaining this strong performance in the coming years," he added.
JLR's revenue for FY24 was £29 billion, its highest-ever full-year revenue and up 27 percent over the previous year, while PAT for FY24 was £2.6 billion.
He said the foundation of this performance was the continued global demand for JLR's contemporary luxury vehicles, led by the Range Rover and Defender brands, alongside an ongoing emphasis on operational enhancement. Tata Commercial Vehicles' Q4 FY24 income stood at Rs 21,600 crore, compared to FY24 income of Rs 78,800 crore.
In Q4 FY24, domestic wholesale commercial vehicles (CV) volumes were 1,04,600 units, lower by 7 percent year-on-year on account of increased pre-buy in Q4 FY23 due to the BS6 Phase II transition, the company said. Tata Motors Ltd Executive Director Girish Wagh said that the Indian CV industry grew by a modest 2 percent in volumes during FY24, impacted by a high base effect of FY23, elections held across five states, and the announcement of general elections.
During the year, the company sold 73,800 EVs, marking a 48 percent increase over FY23, and crossed the milestone of 1.5 lakh cumulative EV production, he added.
(With PTI's Input)
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