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Weak JLR, local sales weigh on Tata Motors Sept quarter profit
Hindustan Times
|November 09, 2024
Tata Motors reported a drop in consolidated net profit in the second quarter of FY25, dragged down by weaker sales across its luxury car arm Jaguar Land Rover and domestic commercial and passenger vehicle businesses.
Net profit for the quarter ended 30 September fell 11% year-on-year (y-o-y) to ₹3,343 crore, while revenue from operations declined for the first time in ten quarters by 3.7% to just over ₹1 trillion. A shortage in aluminium supply impacted profitability at JLR, which accounts for two-thirds of Tata Motors' revenues.
Lower wholesales for JLR and the India passenger vehicle business both impacted the company's operational performance, P.B. Balaji, group chief financial officer, Tata Motors, said in a post-earnings conference call.
Dit verhaal komt uit de November 09, 2024-editie van Hindustan Times.
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