New Delhi: Beating the Street estimates, Tata Motors Ltd, India’s largest truck and bus maker by sales revenue, posted an almost 4% jump in net profit for the December quarter due to a surge in sales at UK subsidiary Jaguar and Land Rover (JLR).
Net profit rose to Rs2,424 crore for the October-December quarter compared with Rs650 crore in the corresponding quarter a year ago.
A Bloomberg news poll of analysts had estimated consolidated third-quarter net profit at Rs2,162 crore.
Total revenues rose by 21.6% to Rs31,506 crore.
On a stand-alone basis, Tata Motors posted a net profit of Rs410 crore, up 2.5% from a year ago.