Auto

Tata motors makes ₹3783 crore profit in 2nd quarter

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%.

Bharat Express English

Recent Posts

Supreme Court Issues Notices To CBI & ED On Manish Sisodia’s Bail Request

On Friday, the SC issued notices to the CBI and ED regarding Manish Sisodia's request…

13 minutes ago

AI & Surveillance Systems To Revolutionize Maha Kumbh 2025 Experience

The UP government is using AI, social media, and surveillance to ensure safety for 45…

39 minutes ago

Maha Kumbh 2025: Ultra-Modern Cruises To Become A Key Attraction For Devotees

The Yogi Adityanath-led UP government will introduce luxury cruises to transport devotees from Kashi to…

2 hours ago

Aam Aadmi Party Kicks Off ‘Revdi Par Charcha’ Campaign Ahead Of Delhi Elections

On Friday, AAP launched its 'Revdi Par Charcha' campaign to engage Delhi residents in the…

2 hours ago

Canada Denies Allegations Against Indian Leadership; Rejects Criminal Links

The Canadian govt addressed allegations linking Indian leaders to criminal activities, stating there is no…

3 hours ago

Delhi-NCR Faces ‘Very Poor’ Air Quality As Smog Engulfs Region

On Friday morning, Delhi-NCR's air quality was classified as 'very poor,' with a light haze…

4 hours ago