Tata Motors Reports 74% Surge in Q1 Net Profit

Tata Motors reported a significant 74% increase in consolidated net profit for Q1, reaching Rs 5,566 crore. The company's total income also rose to Rs 1,09,623 crore. On a standalone basis, net profit was Rs 2,190 crore, showing a remarkable recovery from a net loss last year.

Tata Motors on Thursday announced a substantial 74% rise in its consolidated net profit for the first quarter, which ended on June 30, reaching Rs 5,566 crore.

The Mumbai-based automotive giant had previously posted a net profit of Rs 3,203 crore during the same period last fiscal.

In its regulatory filing, Tata Motors reported an increase in total income, which soared to Rs 1,09,623 crore from Rs 1,03,597 crore in the previous June quarter.

On a standalone basis, the car manufacturer reported a net profit of Rs 2,190 crore, a stark contrast to the net loss of Rs 64 crore recorded in the year-ago period.

The total income for the first quarter also rose to Rs 18,851 crore, up from Rs 16,132 crore last fiscal.

Despite the positive financial results, shares of Tata Motors closed 1.02% lower at Rs 1,144.60 on the BSE.

(With inputs from agencies.)