Tata Motors has recorded a whopping 361% increase in its net profits for the year ended March 2011. The automobile giant beat forecasts to post a consolidated net profit of Rs9,274 crore during the last fiscal. Consolidated revenue rose by a one-third to Rs1.22 trillion. Tata Motors numbers were powered by its UK-based subsidiary Jaguar-Land Rover. JLR launched new models during the year and saw a revival in its key European and North American markets. Investor expectations were strong. Even before to results were announced shares of Tata Motors were up by 2.45 percent to close at 1161.25.
Food inflation is back. Production and labour costs are rising across India, driving up prices of agricultural produce. New figures show prices of food items rose at their fastest pace in four weeks in early May. The food price index rose 8.55% in the period to 14 May. The previous week it climbed 7.47%.