New Delhi: Tata Motors Ltd on Friday reported its quarterly profit for the second time, with a net profit of Rs 5,407.8 crore for the January to March quarter in comparison to a loss of Rs 1,033 crore a year back.
In the quarter ended on March 31, 2023, Tata Motors took a 35 per cent year-on-year (YoY) jump in its combined revenue to Rs 105, 932 crore.
The auto firm announced a final dividend of Rs 2 per equity share and Rs 2.1 per share for DVR shareholders, subject to approval by the shareholders at the AGM.
On Friday, Tata Motors’ scrip closed 0.8% higher on BSE at Rs 515.65.
“The year ended on a strong note with all automotive verticals delivering robust performances leading to multiple all-time high achievements. The distinct strategy employed by each business is delivering, in unison, leading to a sharp improvement in overall results. We remain confident on growth with cash flow generation, to achieve our stated goals”, said PB Balaji, Group Chief Financial Officer, Tata Motors.
Quarterly Profits
The company’s revenue from operations took a high of 35% to Rs 1.06 lakh crore in Q4FY23 which was Rs 78,439 crore in Q4FY22.
The company in its stock exchange filing said that it is remaining optimistic about the demand situation despite seeing uncertainties coming in the near future and hopes for a moderate inflationary environment. Adding further, it said that it is aiming for an improvement and will be delivering strong performance in FY24.
The company further said that it anticipates gradual improvements in chip supply to continue for the next fiscal year. Presently, the company targets to grow its wholesale through the year and conquer EBIT margins of over 6% in FY24, in spite of supply challenges and macro risks.
