Consolidated Tata Motors Q1 net revenue, sales and 46% profit growth
Financial results for the first quarter of this year and the overall results of the past financial year were declared by Tata Motors. Net revenues…
Revenues increased to Rs.50,908 crores in Q1-12 as compared to Rs.35,287 crores in Q1-11 resulting in a growth of 44.3%. This was primarily due to the strong growth factors in volumes across products and markets that was seen in the past one year. Consolidated Profit before Tax for Q1-12 was Rs.4,424 crores as against Q1-11 figures of Rs.2,911 crores while profit after tax was Rs.6,234 crores as compared to Rs.2,638 crores in Q1-11.
Speaking of Tata Motors stand alone financial results for the past year and the first quarter of this year showed a 14.4% increase in revenues from Rs.14,326 in the previous year to Rs.16,391 crores currently.
Exports of both commercial and passenger vehicles for the financial year 2011-12 stood at 926,353 units, a growth of 10.7% over the previous year’s figures. In domestic markets alone commercial vehicle sales for Q1-12 stood at 155,672 units up by 16.2% over Q1-11 figures while commercial vehicle sales during the entire year 11-12 increased by 15.7% to 530,204 units while taking the previous year into account.
News release: Consolidated Net Revenue grows by 36% to Rs 165,655 crores in FY 2011-12
Consolidated Profit grows 46% to Rs. 13,517 crores (Rs. 9,274 crores in FY 2010-11)
Consolidated Financial Results for the Quarter and Year ended March 31, 2012
Tata Motors today reported consolidated revenues (net of excise) of Rs.50,908 crores for the quarter ended March 31, 2012, posting a growth of 44.3% over Rs. 35,287 crores in the corresponding quarter of the previous year on the back of strong growth in volumes across products and markets. The Consolidated Profit before Exceptional item and Tax was Rs.4,596 crores, posting a growth of 68.1% over Rs. 2,734 crores in the corresponding quarter of the previous year. The Consolidated Profit before Tax (PBT) for the quarter was Rs.4,424 crores, compared to Rs. 2,911 crores for the corresponding quarter of the previous year. The Consolidated Profit (after tax and post minority interest and profit in respect of associate companies) for the quarter was Rs.6,234 crores, as compared to Rs.2,638 crores in the corresponding quarter of the previous year.
The consolidated revenue (net of excise) for FY 2011-12, was Rs. 165,655 crores posting a growth of 35.6% over Rs. 122,128 crores in the corresponding period last year. The Consolidated Profit before Exceptional item and Tax was Rs 14,366 crores, posting a growth of 40.8% over Rs 10,206 crores in the corresponding period last year. The Consolidated Profit before Tax (PBT) for the year was Rs. 13,534 crores, compared to Rs. 10,437 crores for the corresponding period last year. The Consolidated Profit for the period (after tax and post minority interest and profit in respect of associate companies) was Rs.13,517 crores, as compared to Rs. 9,274 crores in the corresponding period last year.
Tata Motors Stand-alone Financial Results for the Quarter and Year ended March 31, 2012
Tata Motors standalone revenues (net of excise) for the Quarter ended March 31, 2012 of Rs. 16,391 crores represented a growth of 14.4% over Rs. 14,326 crores in the corresponding period last year. Growth in volumes, and reduction in marketing costs resulted in an improvement in Operating margins to 9.5% for the Quarter ended March 31, 2012 over 8.9% for the corresponding period last year. The Operating Profit (EBITDA) stood at Rs. 1,561 crores in the quarter, a growth of 22.1% over Rs. 1,278 crores in the corresponding period last year.
The PBT for the quarter is Rs. 652 crores as compared to Rs. 591 crores in the corresponding period last year and the PAT for the quarter is Rs. 565 crores as compared to Rs. 573 crores in the corresponding period last year.
The standalone revenues (net of excise) for FY 2011-12, at Rs. 54,307 crores posted a growth of 15.3% over Rs. 47,088 crores in the corresponding period last year. The Standalone Profit before Tax (PBT) for FY 2011-12 was Rs. 1,341 crores, compared to Rs. 2,197 crores for FY 10-11. The Standalone Profit After Tax for FY 2011-12 was Rs. 1,242 crores, as compared to Rs.1,812 crores in FY 10-11.
The Standalone Profit Before Tax and Profit After Tax for FY 2011-12 were impacted by Exceptional items of Rs 585 crores (Rs. 147 crores in FY 2010-11) on account of exchange loss (net) including on revaluation of foreign currency borrowings, deposits and loans arising from the depreciation of Indian Rupee (INR) and provision made for certain investments in 100% subsidiary Tata Hispano Motors Carrocera SA, Spain arising from continuous underperformance impacted by challenging market conditions.
Tata Motors’ sales (including exports) of commercial and passenger vehicles for FY 2011-12, stood at 926,353 units, representing a growth of 10.7 % as compared to the corresponding period last year.
In the domestic market, the Company’s commercial vehicles sales for the Quarter ended March 31, 2012, stood at 155,672 units, an increase of 16.2% over the corresponding period last year. The commercial vehicles sales during FY 2011-12 increased by 15.7 % to 530,204 units, as compared to the corresponding period last year. The Company’s market share in commercial vehicles was 59.4% for FY 2011-12.
Passenger vehicles, including Fiat and Jaguar and Land Rover vehicles distributed in India, grew by 18.1% to 112,470 units in the domestic market for the Quarter ended March 31, 2012, as compared to the corresponding period last year. Sales for FY 2011-12 grew by 4.0% to 333,044 units, as compared to the corresponding period last year. Focused marketing initiatives and network actions have positively influenced sales. The market share in passenger vehicles stood at 13.1% for FY 2011-12 largely driven by sales in the recent quarters. The market share in Passenger vehicles for Q4 FY12 stood at 14.2%.
