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.
Esta historia es de la edición May 13, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición May 13, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
T20 WORLD CUP: NETHERLANDS BEAT NEPAL BY 6 WICKETS
The Netherlands beat Nepal by six wickets with eight balls to spare in a tight contest that was delayed by rain at the Grand Prairie Stadium, Dallas, Texas, on Tuesday night.
QS Rankings: IIT Bombay, IIT Delhi in top 150
The Indian Institutes of Technology (IITs) Bombay and Delhi are among the top 150 universities in the world, while the Massachusetts Institute of Technology (MIT) retained the top rank globally for the 13th time, according to the QS World University Ranking, 2025 announced on Wednesday.
Delhi reports 3rd hospital fire incident in 2 weeks
A major fire incident took place in an eye hospital based in Southeast Delhi's Lajpat Nagar on Wednesday, marking the third instance of hospital fire in the national capital in two weeks.
'Food processing industry should focus on quality'
A mid growing scrutiny of processed food in the country, a senior official at the Ministry of Food Processing Industries on Wednesday asked that industry to take a cue from international standards even if they have to \"compromise a little\" on profit margins.
United Spirits may lose fizz on near-term woes
Long-term prospects promising, but there are no immediate triggers
VOLATILE DURING POLL RESULTS, LUCRATIVE 6 MONTHS LATER
As is the case now, equity markets always tend to be highly volatile around the time of election results.
Kronox Lab IPO subscribed 117.25x on last day
The initial public offering (IPO) of Kronox Lab Sciences garnered 117.25 times subscription on the closing day of bidding on Wednesday.
Policy, valuations could keep rural stocks in play
Most brokerages are betting that the new government will shift to a policy focusing on boosting rural incomes and consumption since that has clearly been a pain point.
Regulator mulls raising limit for basic-service demat account to ₹10 lakh
Markets regulator Securities and Exchange Board of India (Sebi) on Wednesday proposed to enhance the threshold for the basic service demat account (BSDA) to 10 lakh from the current ₹2 lakh in a bid to boost the participation of retail investors in the securities market.
Sebi eases timelines for FPIs to disclose material changes
The Securities and Exchange Board of India (Sebi) has relaxed the timeline for foreign portfolio investors (FPIs) for reporting and disclosing material changes.
