In contrast to a loss of Rs 1,004 crore during the same period last year, automaker Tata Motors Ltd (TML) reported a profit of Rs 3,783 crore for the quarter that ended in September 2023.
Compared to the March quarter’s Rs 3,089 crore, the net profit increased by 22.46%. Compared to Rs 78,846 crore during the same period last year, the company reported revenue of Rs 104,443 crore for the September quarter.
“It was a passenger vehicle transition quarter. As supplies of outgoing models were proactively managed to enable a seamless transition to their next generation versions, the PV volumes were at 139,000 units (-2.7 percent year-over-year), according to TML.
Also Read: 19 die in Haryana due to poisonous liquor consumption, 7 arrested including Congress leader
Tata Motors Group Chief Financial Officer PB Balaji stated: “It is encouraging to see every business meet their well-differentiated goals for this quarter.” We are optimistic about maintaining this momentum because of our robust product pipeline, seasonally stronger H2, and ongoing focus on cash accretive growth.
Also Read: WHO: Gaza’s health system is on its knees
“It was a transition quarter for us as we proactively reduced our supplies of outgoing models to enable a smooth transition to their next gen avatars,” stated Shailesh Chandra, Managing Director of TMPV and TPEM. This, along with the fact that Q2 FY23 saw our highest-ever sales, led to us disclosing a 3.0% quarterly decline in revenue. During the quarter, the EV business reported robust sales growth of 55%.
On Friday, the SC issued notices to the CBI and ED regarding Manish Sisodia's request…
The UP government is using AI, social media, and surveillance to ensure safety for 45…
The Yogi Adityanath-led UP government will introduce luxury cruises to transport devotees from Kashi to…
On Friday, AAP launched its 'Revdi Par Charcha' campaign to engage Delhi residents in the…
The Canadian govt addressed allegations linking Indian leaders to criminal activities, stating there is no…
On Friday morning, Delhi-NCR's air quality was classified as 'very poor,' with a light haze…