Tata Motors reports 68 pc increase in net profit at Rs 2,941 cr in Q3

Homegrown auto major Tata Motors on Friday reported a 67.52 per cent rise in its consolidated net profit to Rs 2,941.48 crore for the third quarter ended December 31, 2020.

The Mumbai-based company had posted a net profit of Rs 1,755.88 crore in the corresponding quarter of 2019-20.

Its total revenue during October-December 2020 rose to Rs 75,653.79 crore as against Rs 71,676.07 crore in the year-ago period, Tata Motors said in a regulatory filing.

On a standalone basis, Tata Motors posted a net loss at Rs 638.04 crore, against a net loss of Rs 1,039.51 crore in the year-ago period. Total revenue, however, rose to Rs 14,630.60 crore as compared with Rs 10,842.91 crore a year ago.

The company's British arm Jaguar Land Rover (JLR) reported a pre-tax profit of 439 million pounds, 121 million pounds better year-on-year, it added.