Jaguar Land Rover profit margin improves on China, US demand
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Mumbai: Jaguar Land Rover’s fourth-quarter profit margin improved from the preceding three months on strong demand for its sport utility vehicles in major markets including China and the US.
Earnings before interest, tax, depreciation and amortization margin for Tata Motors Ltd’s luxury unit widened to 14.5% in the three months ended March, from 9.3% in the previous quarter, according to the company’s stock exchange filing Tuesday. That helped boost profit at Jaguar Land Rover unit by 18% to £557 million ($722.5 million).
Jaguar is benefiting from investments made by parent Tata Motors and a fully overhauled product-line. Sales of the British marque surged 81% in the quarter on demand for its F-Pace sport utility vehicle and entry-level XE sedan.
The Jaguar Land Rover results failed to stem a profit decline at parent Tata Motors. Net income fell 17 % to Rs4,296 crore ($662 million) in the quarter from the year earlier, compared with the Rs2,580 crore average of analysts’ estimates compiled by Bloomberg.
Deliveries of the luxury unit rose 13% on strong demand across the product portfolio led by sales of F-Pace, Range Rover and Discovery Sport SUVs, the company said. Bloomberg