OREANDA-NEWS. Tata Motors, reported consolidated revenues (net of excise) of Rs63,877 crore for the quarter ended December 31, 2013, a growth of 38.6 percent over Rs46,090 crore for the corresponding quarter of the previous year, on the back of strong demand, growth in volumes and favourable product-mix and geographic-mix at Jaguar Land Rover. The consolidated profit before tax for the quarter was Rs6,128 crore, over Rs2,668 crore for the corresponding quarter of the previous year and the consolidated profit after tax (post minority interest and profit / loss in respect of associate companies) for the quarter was Rs4,805 crore, over Rs1,628 crore for the corresponding quarter of the previous year.

The consolidated revenue (net of excise) for the nine months ended December 31, 2013, was Rs1,67,544 crore, posting a growth of 26.1 percent over Rs1,32,816 crore for the corresponding period last year. The consolidated profit before tax for the nine months ended December 31, 2013, was Rs13,807 crore, a growth of 54.5 percent over Rs8,939 crore for the corresponding period last year. The consolidated profit after tax (post minority interest and profit / loss in respect of associate companies) for the nine months ended December 31, 2013, was Rs10,073 crore, a growth of 69.4 percent compared to Rs5,947 crore for the corresponding period last year.

Tata Motors standalone financial results for the quarter and nine months ended December 31, 2013

The sales (including exports) of commercial and passenger vehicles for the quarter ended December 31, 2013, stood at 1,32,087 units, a decline of 35.7 percent as compared to the corresponding period last year. The revenues (net of excise) for the quarter ended December 31, 2013, stood at Rs7,770 crore, as compared to Rs10,630 crore for the corresponding quarter of the previous year. Prolonged slowdown in economic activity, weak consumer sentiments, subdued infrastructure activity, tight financing environment with high interest rates, weak operating economics for transporters due to lower fleet utilisation and stagnant freight rates combined with fuel price increases, continued to impact the industry during the quarter. The commercial vehicle industry declined in September-December 2013 quarter over the corresponding period last year, led by a fall of 31 percent in the cyclical M&HCV segment and around 27 percent in the LCV segment. However, value-added services and new launches by the company in M&HCV segment led to an increase in market share by 200bps in the quarter ended December 31, 2013, as compared to the corresponding quarter last year. Profit / (loss) before and after tax for the quarter ended December 31, 2013, was Rs621 crore and Rs1,251 crore, respectively, against the profit / (loss) before and after tax of Rs(601) crore and Rs(458) crore, respectively, for the corresponding quarter last year.

The company is in the process of divesting its investments in certain foreign subsidiary companies to TML Holdings, Singapore, a wholly-owned subsidiary. Consequently, the profit before tax for the quarter ended December 31, 2013, includes a profit of Rs1,948 crore on such divestments.

The revenues (net of excise) for the nine months ended December 31, 2013, were Rs25,743 crore as compared to Rs33,698 crore in the corresponding period last year. Profit before and after tax for nine months ended December 31, 2013, was Rs391 crore and Rs1,151 crore, respectively, against Rs660 crore and Rs614 crore, respectively, for the corresponding period last year.