Tata Motors surges out of red with Rs 3,674 crore net profit in q2

Tata Motors surges out of red with Rs 3,674 crore net profit in q2November 2, 2023New Delhi, Nov 2 (IANS) Auto giant Tata Motors on Thursday reported a consolidated net profit of Rs 3,764 crore for the July-September quarter of the current financial year bouncing back from a net loss of Rs 944.6 crore for the same period of the previous year.

The company’s turnover grew 32.1 per cent on a year-on-year basis to Rs 1,05,128.2 crore, according to a regulatory filing.The auto major registered Rs 14,400 crore in earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter which represents an increase of 86.4 per cent over the corresponding figure of the previous year.Tata Motors remains positive on the outlook ahead on the same of trucks cars and electric vehicles.The company said: “We aim to deliver a stronger performance in H2, due to a healthy order book at JLR, strong demand for heavy trucks in CV and exciting new generation products in PV. Our financial performance is expected to improve further owing to a richer mix, continued low-break-even in JLR, execution of demand-pull strategy in CV and improving profitability in PV/EV.”–IANSpannu/danhttps://ians.in/detail/tata-motors-surges-out-of-red-with-rs-3674-crore-net-profit-in-q2–20231102180211/