OREANDA-NEWS. November 16, 2012. Tata Motors reported consolidated revenues (net of excise) of Rs43,403 crore for the quarter ended September 30, 2012, a growth of 19.9 percent over Rs36,198 crore for the corresponding quarter of the previous year, on the back of strong demand, growth in volumes and favourable market mix at Jaguar Land Rover (JLR). The consolidated profit before exceptional item and tax was Rs3,099 crore, posting a growth of 14.4 percent over Rs2,709 crore for the corresponding quarter of the previous year. The consolidated profit before tax for the quarter was Rs3,089 crore, a growth of 36.1 percent over Rs2,270 crore for the corresponding quarter of the previous year. The consolidated profit (after tax and post minority interest and profit in respect of associate companies) for the quarter was Rs2,075 crore, a growth of 10.5 percent over Rs1,877 crore for the corresponding quarter of the previous year.

The consolidated revenue (net of excise) for the half year ended September 30, 2012 was Rs86,726 crore, posting a growth of 24.8 percent over Rs69,486 crore for the corresponding period last year. The consolidated profit before tax for the half year ended September 30, 2012 was Rs6,271 crore, compared to Rs4,616 crore for the corresponding period last year. The consolidated profit (after tax and post minority interest and profit in respect of associate companies) for the half year ended September 30, 2012 was Rs4,320 crore, a growth of 11.4 percent over Rs3,877 crore for the corresponding period last year.

Tata Motors standalone financial results for the quarter and half year ended September 30, 2012

The sales (including exports) of commercial and passenger vehicles for the quarter ended September 30, 2012 stood at 2,23,655 units, representing a growth of 5.8 percent, as compared to the corresponding quarter last year. The revenues (net of excise) for the quarter ended September 30, 2012 stood at Rs12,481 crore, as compared to Rs12,954 crore for the corresponding quarter last year. Weak macro-economic outlook and sluggish industrial demand, coupled with diesel price increases, have impacted M&HCV sales.

Further, competitive pressures on pricing in certain segments and weak product mix, impacted the operating margins. The operating margin was 5.9 percent for the quarter ended September 30, 2012 as compared to 7.2 percent for the corresponding quarter last year. Profit before tax and profit after tax for the quarter ended September 30, 2012 was Rs1,024 crore and Rs867 crore respectively, against Rs37 crore and Rs102 crore respectively for the corresponding quarter last year. The profit before tax for the quarter included dividend from Jaguar Land Rover and other subsidiaries amounting to Rs1,312 crore (Rs29 crore in the corresponding period last year).

The revenues (net of excise) for the half year ended September 30, 2012 were Rs23,068 crore as compared to Rs24,578 crore in the corresponding period last year. Profit before tax and profit after tax for half year ended September 30, 2012 were Rs1,261 crore and Rs1,072 crore respectively, compared to Rs503 crore (both PBT and PAT) for the corresponding period last year.

In the domestic market, the commercial vehicles sales for the quarter ended September 30, 2012 stood at 136,353 units, a growth of 4.8 percent over the corresponding period last year, driven by LCV segment, and the company's overall market share in commercial vehicles improved sequentially and stood at 59.7 percent for the quarter. Passenger vehicles sales stood at 72,603 units for the quarter ended September 30, 2012, an increase of 11.6 percent over the corresponding period last year and the overall market share in passenger vehicles grew to 12.3 percent for the quarter, driven by the compact and UV segments.

Jaguar Land Rover PLC (figures as per IFRS)

Jaguar Land Rover wholesales for the quarter ended September 30, 2012 grew 13.9 percent over corresponding period last year to 77,442 units. Of this, the Jaguar volumes for the period stood at 9,832 units and Land Rover volumes at 67,610 units. Growth in volumes was driven by continued strong demand from the China region, which represented 21.1 percent of sales for the quarter ended September 30, 2012, as against 16.3 percent for the corresponding period last year and by sales of the Range Rover Evoque.

Revenues for the quarter ended September 30, 2012 of GBP 3,288 million, represented a growth of 12.8 percent over GBP 2,915 million in the corresponding quarter last year. Operating margins for the quarter ended September 30, 2012, stood at 14.8 percent. Operating profit (EBITDA) of GBP 486 million in the quarter, represented a growth of 15.7 percent over GBP 420 million in the corresponding quarter last year. Continued strong revenue and operating performance were supported by favourable market mix, exchange rate environment and was partially offset by the model mix. The PBT for the quarter ended September 30, 2012 was GBP 431 million (GBP 216 million in the corresponding quarter last year). PBT for the quarter included GBP 67 million of foreign exchange gain on revaluation and hedging. PAT for the quarter is GBP 305 million (GBP 172 million in the corresponding quarter last year).

During the quarter, JLR paid a maiden equity dividend of GBP 150 million to Tata Motors.

Tata Daewoo

Tata Daewoo Commercial Vehicles registered net revenues of KRW 205 billion and recorded a net profit of KRW 1.4 billion in the quarter ended September 30, 2012.

Tata Motors Finance

Tata Motors Finance, the company's captive financing subsidiary, registered net revenue from operations of Rs652 crore and reported a profit after tax of Rs69 crore the quarter ended September 30, 2012.