Tata Motors' Q3 net profit plunges 96% YoY to Rs 112 crore

NEW DELHI: Tata Motors on Tuesday reported a 96.20 per cent plunge in consolidated profit after tax (post profit/loss in respect of joint ventures and associate companies) at Rs 112 crore for the December quarter.

The company had reported a consolidated profit after tax (post profit / loss in respect of joint ventures and associate companies) of Rs 2,953 crore in the corresponding quarter of last year, the company said in a BSE filing.

The consolidated numbers were impacted by JLR's lower wholesale volumes and relatively weaker product mix, including the run out of Discovery, in Jaguar Land Rover business. The overall higher marketing expenses, were partially offset by credit relating to the recovery because of explosion at the port of Tianjin (China), the company said.

Consolidated revenues (net of excise) for the quarter came in at Rs 67,484 crore, compared with Rs 70,567 crore for the corresponding quarter last year. The company attributed this to unfavourable translation impact of Rs 10,670 crore.

Consolidated Profit before tax (PBT) for the quarter stood at Rs 599 crore, compared with Rs 3,414 crore in the same quarter last year. In euro terms, PBT stood at £255 million for the quarter ended December 31, 2016 (after an exceptional item of £85 million of further recoveries related to Tianjin) compared to £499 million in the corresponding quarter last year (which also included an exceptional
item of £30 million of recoveries related to Tianjin).

JLR reported £167 million PAT for the quarter, compared with £440 million in the corresponding
quarter last year.