Tata Motors' Q4 profit falls 17%; JLR margins rise to 14.5%

NEW DELHI: Tata Motors on Tuesday reported reported a 16.79 per cent YoY drop in consolidated net profit at Rs 4,336 crore for the March quarter, beating Rs 2,635 crore estimated by analysts in an ET Now poll.

The automaker had reported a net profit of Rs 5,211 crore in the corresponding quarter last year.

Consolidated revenue for the quarter (net of excise) declined 2.86 per cent YoY to Rs 77,272 crore, compared with Rs 79,549 crore for the corresponding quarter last year.

The company said that its revenues were lower by Rs 9,032 crore due to translation impact from British pound to rupee. Consolidated Profit before tax (PBT) fell to Rs 5,166 crore from Rs 5,888 crores in the year-ago quarter.

The company said its Jaguar Land Rover business saw 13 per cent YoY rise in retail sales; revenues in pound terms were up up 10.1 per cent YoY.

“Higher wholesale volumes partially offset by overall higher marketing expenses and higher depreciation and
Amortization,” it said in a filing to BSE.

"During Q4 FY17, the Company reviewed the presentation of foreign exchange gain/(loss) in the income statement, following the continued increase in hedging activity and volatility in FX rates. Accordingly, it was considered more appropriate to present realised foreign exchange relating to the hedging of revenue and costs exposures as an adjustment to revenue and costs for Q4 FY17 and FY17," it said.