Tata Motors releases Q1FY24 results; posts net profit of over 3200 crores
Tata Motors has released the results of the first quarter of Q1FY24 i.e. Financial Year 2024 on Tuesday (July 25). The company has earned a net profit of Rs 3,202 crore in the April-June quarter. The company had a loss of Rs 5,007 crore in Q1FY23 a year ago. That is, on an annual basis, the company has come from loss to profit.
Revenue increased by 42.1% to Rs 1.02 lakh crore
In the quarter ended June 30, the company’s revenue increased by 42.1% year-on-year to Rs 1.02 lakh crore. 71,934 in the same period of the last financial year.
Jaguar and Land Rover’s revenue was 6.9 billion pounds
Jaguar and Land Rover’s revenue stood at £6.9 billion in the June quarter. This is 57% more on year-on-year basis. Jaguar Land Rover’s retail sales in the June quarter grew by 29% to 1.02 units. Whereas, wholesale sales increased by 30% to 93,253 units.
Tata Motors sold 1.4 lakh passenger vehicles in Q1
Tata Motors sold 1.4 lakh units of vehicles in the first quarter, up 5% year-on-year. While commercial vehicle sales declined by 14% to 82,225.
Tata Motors share made all-time high
Prior to the results, Tata Motors shares closed at Rs 641.80, up 2%. The company’s stock also hit a fresh all-time high of Rs 642.50 during the trade.
