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.
Bu hikaye Business Standard dergisinin May 13, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Standard dergisinin May 13, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
Trai dials National Numbering Plan tweak
The Telecom Regulatory Authority of India (Trai) on Thursday issued a consultation paper on revising the National Numbering Plan to create a sustainable pool of new phone numbers for the country's nearly 1.2 billion mobile phone connections.
South, East India accounted for 67% of heatwave days in 2023
The number of heatwave days in east and southern peninsular India during peak summer in 2023 almost doubled and accounted for nearly two-thirds of the total heatwave days experienced across the country, the latest data released by the National Statistical Office (NSO) showed.
Monsoon reaches Maharashtra: IMD
Southwest monsoon reached Maharashtra on Thursday, bringing respite to the state where many parts have been reeling under scorching heat and severe water shortage.
EV portfolio to drive Uno Minda growth
The stock of auto component maker Uno Minda jumped 13 per cent on Thursday after it announced a technical licensing agreement with ChinaInovance based Suzhou Automotive Company.
New govt to boost infra sector, but expect some hurdles
The general elections inevitably led to a slowdown in government projects through Q4FY24 and Q1FY25 with muted activity.
Markets extend gains as govt formation nears
Sensex jumps 692 pts, Vix slumps for 2nd day
MF platforms face backlash over delay in unit allotments
Several investors wanting to invest in mutual fund (MF) schemes, amid the selloff in the market on Tuesday, were left in the lurch as online MF investment platforms failed to execute the transactions on time.
Over $2 bn exodus: PEs, promoters swiftly reacted before poll verdict
Share sales hold breath for government clarity
Sebi's warning to ICICI Bank over ICICI Securities delisting
The Securities and Exchange Board of India (Sebi) on Thursday issued a warning to ICICI Bank for flouting norms during its outreach programme to the shareholder of broking firm ICICI Securities to vote in favour of the delisting.
The ageism debate
India will gain from raising the retirement age
