Notwithstanding robust volume growth and a strong performance from Jaguar Land Rover (JLR), Tata Motors, the country's second-largest automobile (auto) manufacturer by market capitalisation, disappointed the Street with its January-March quarter (Q4) results for 2023-24 (FY24)..
While consolidated revenues saw a 13 per cent increase, lower-than-expected realisations in the Indian operations weighed down overall performance.
The commercial vehicle (CV) segment, representing 60 per cent of Indian auto business revenues, witnessed a mere 1.6 per cent growth, hampered by a 6 per cent decline in volumes. This decline was attributed to the high base in the year-ago quarter, driven by pre-buying due to the Bharat Stage-VI Phase-II transition.
Despite higher prices and an improved product mix, revenues saw only a marginal increase.
Conversely, the passenger vehicle (PV) business saw a 15 per cent growth in volumes over the year-ago quarter, resulting in a revenue growth of 19 per cent.
Diese Geschichte stammt aus der May 13, 2024-Ausgabe von Business Standard.
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