New Delhi, Aug 8 (PTI) Tata Motors on Friday reported a 62.2 per cent decline in consolidated net profit to Rs 4,003 crore in the June quarter, impacted by volume decline across segments, drop in JLR profits
and high base effect due to gain from sale of discontinued operations.
The auto major had posted a consolidated net profit of Rs 10,587 crore in the April-June quarter of the previous fiscal, Tata Motors Ltd (TML) said in a regulatory filing.
During the quarter, its total revenue from operations stood at Rs 1,04,407 crore against Rs 1,07,102 crore in the year-ago period, it added.
TML’s performance in the quarter was impacted by volume decline in all businesses and a drop in profitability primarily at JLR, the company said.
Following the amalgamation of Tata Motors Finance Ltd (TMFL) – a wholly-owned step-down subsidiary of the company – into Tata Capital Ltd, the company had received equity shares of TCL amounting to Rs 8,016 crore over the book value of net assets transferred as at appointed date of April 1, 2024, translating to Rs 4,975 crore as gain on sale of discontinued operation in consolidated results, the filing said. PTI RKL SHW
