Thursday, May 26, 2011

Tata Motors net profit jumps over three-fold

Mumbai, May 26, 2011 (PTI)





Tata Motors on Thursday reported an over three-fold rise in its consolidated net profit for 2010-11 fiscal to Rs. 9,273.62 crore.



The company had posted a net profit of Rs. 2,571.06 crore in 2009-10 financial year, Tata Motors said in a statement.



The consolidated total income from operations during last fiscal also jumped by 33.09 per cent to Rs. 1,23,133.30 crore from Rs. 92,519.25 crore, it added.



During 2010-11, Tata Motors sold a total of 10,80,994 vehicles across the world, up 24.2 per cent over the previous financial year, the statement said.



The company's board recommended a dividend of 200 per cent, which is Rs. 20 per share, for every ordinary share. It has also recommended a dividend of 205 per cent, which is Rs. 20.50 per unit, for every 'A' ordinary shares.



Tata Motors also said its board has approved a proposal to split its stock, under which its ordinary and 'A' ordinary shares both of Rs. 10 each will be divided into shares of Rs. 2 each.



The shares of the company today closed 2.45 per cent up at Rs. 1,161.25 apiece on the Bombay Stock Exchange.


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