NEW DELHI: Higher sales in the Indian market and improved performance of Jaguar and Land Rover helped Tata Motors return to black in the fiscal 2009-10 as economic recovery boosted demand. Cost-belting measures and price increments also aided the turnaround for the company that suffered losses in 2008-09 .
Tata Motors reported a consolidated net profit of Rs 2571 crore for the previous fiscal against a net loss of Rs 2505 crore in 2008-09 . "Overall economic recovery, a benign liquidity environment along with government stimulus has driven domestic demand revival... We are pleased with the performance of the Jaguar and Land Rover business which turned profitable for the year, reporting a profit before tax (PBT) of £32 million ," the company said.
Tata Motors said consolidated sales for the company in 2009-10 stood at Rs 92,519 crore, a growth of 30% over Rs 70,881 crore in the previous fiscal. \"There has been strong volume growth both at Tata Motors and at Jaguar Land Rover.\"
Realisations were also higher for the company in the year. "Volume recovery led by introduction of new products and strong continued growth in the existing portfolio , continued focus on cost efficiencies and price increases undertaken to combat strengthening commodity prices aided the company to grow realisations and deliver double digit operating margin of 11.74%," it said.
Sales of trucks, buses, Nano cars, and other sportutility vehicles in the year increased 32% to 667,971 units, helped by revival. In the domestic market, the company\'s commercial vehicles\' sales grew by 41% to 373,842 units leading to a market share of 64.2%, up from 63.8% of last year.
News From: http://www.7StarNews.com
Thursday, May 27, 2010
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