The share price of Tata Motors zoomed over 7 percent intraday on February 5, 2024. This comes after the company declared its Q3 earnings wherein the auto major reported a 137 percent YoY growth in consolidated profit.
According to an exchange filing to BSE, Tata Motors reported a 137.5 percent on-year growth in consolidated profit of Rs 7,025 crore for the quarter that ended December 2023.
Revenue from operations for the same period grew 25 percent YoY to Rs 1,10,577 crore for the quarter. EBITDA for the quarter grew 59 percent to Rs 15,333.3 crore. The margin for the reporting period expanded 300 basis points to 13.9 percent.
“We remain positive on all three auto businesses. We expect the performance to further improve in Q4 on account of seasonality, new launches, and improving supplies at JLR. We achieved net debt reduction of Rs 9.5k crore in Q3. We are confident of achieving our deleveraging plans,” Tata Motors said.
P.B. Balaji, Group Chief Financial Officer, Tata Motors said, “It is satisfying to see our businesses execute well on their differentiated strategies and deliver a strong set of results for the quarter, thereby making it six quarters of consistent delivery. We aim to end the year on a strong footing and remain confident of sustaining our performance in the coming quarters and delivering on our de-leveraging plans.”
At 11:46 AM, Tata Motors share price was trading at Rs 938.45, up Rs 59.70 or 6.79 percent.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.
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