OREANDA-NEWS. Consolidated financial results for the quarter ended June 30, 2013 Tata Motors today reported consolidated revenues (net of excise) of Rs46,785 crore for the quarter ended June 30, 2013, a growth of 8.0 percent over Rs43,324 crore for the corresponding quarter of the previous year, despite a weak operating environment in the standalone business, which was more than offset by strong demand, growth in volumes, richer product mix and favourable foreign exchange at Jaguar Land Rover (JLR). The consolidated profit before tax for the quarter was Rs2,927 crore, as compared to Rs3,183 crore for the corresponding quarter of the previous year, and the consolidated profit (after tax and post minority interest and profit / loss (net) in respect of associate companies) for the quarter was Rs1,726 crore as compared to Rs2,245 crore for the corresponding quarter of the previous year.

Tata Motors standalone financial results for the quarter ended June 30, 2013 The sales (including exports) of commercial and passenger vehicles for the quarter ended June 30, 2013, stood at 1,54,352 units, a decline of 19.0 percent as compared to the corresponding quarter last year. Weak macro-economic environment and competitive pressures on pricing continued to impact the operations during the quarter. Standalone revenues (net of excise) for the quarter ended June 30, 2013, stood at Rs9,105 crore, as compared to Rs10,586 crore for the corresponding quarter of the previous year.

The operating margin was 2.3 percent for the quarter ended June 30, 2013, as compared to 7.3 percent in the corresponding quarter last year. Profit before tax and profit after tax for the quarter ended June 30, 2013, was Rs753 crore (after considering dividend from Jaguar Land Rover and other subsidiaries amounting to Rs1,537 crore) and Rs703 crore, respectively, against the profit before tax and profit after tax of Rs237 crore (after considering dividend from subsidiaries amounting to Rs253 crore) and Rs205 crore, respectively, for the corresponding quarter last year.

Jaguar Land Rover Automotive (figures as per IFRS) JLR wholesales and retails for the quarter ended June 30, 2013, grew 8.6 percent and 10.4 percent over corresponding period last year to 90,620 units and 94,719 units, respectively. Following strong response to its new products and powertrain options, Jaguar wholesales and retail volumes grew 57.8 percent and 28.0 percent to 18,577 units and 17,459 units, respectively, as against 11,774 units and 13,638 units, respectively, in the corresponding quarter last year.

Following strong response to the All-New Range Rover, continued demand for its products and preparation for the All-New Range Rover Sport to be launched in the coming months, Land Rover wholesale and retail volumes stood at 72,043 units and 77,260 units (growth of 0.5 percent and 7.1 percent over the corresponding quarter last year). Revenues for the quarter ended June 30, 2013, of GBP 4,097 million represented a growth of 12.6 percent over GBP 3,638 million during the corresponding quarter last year. The operating profit for the quarter stood at GBP 675 million (up 28.1 percent over the corresponding quarter last year) and operating margin at 16.5 percent, reflecting wholesales volume increase, favourable exchange rate and richer product mix supported by the launch of All-New Range Rover and F-TYPE.

The profit before tax for the quarter grew 24.6 percent over the corresponding quarter last year to GBP 415 million (GBP 333 million in the corresponding quarter last year), due to higher operating profit partially offset by higher depreciation and amortisation as well as higher finance expense, net of more favourable exchange revaluation. Profit after tax for the quarter is GBP 304 million against GBP 236 million in the corresponding quarter last year, up 28.8 percent. Tata Daewoo (figures as per Korean GAAP) Tata Daewoo Commercial Vehicles registered net revenues of KRW 240 billion and recorded profit after tax of KRW 8 billion in the quarter ended June 30, 2013.

Tata Motors Finance Tata Motors Finance, the company's captive financing subsidiary, registered net revenue from operations of Rs819 crore and reported profit after tax of Rs80 crore for the quarter ended June 30, 2013 (a growth of 9.7 percent over the corresponding quarter last year).