As against analyst expectations, Tata Motors Q2 results reported a three-fold jump in profit. The consolidated net profit for the quarter ended September of the leading auto manufacturer stood at Rs 2,502 crore, the highest reported numbers in six quarters, as per the filing to the exchange.
The revenue of the company grew by 10.3% to Rs. 70,156 crore on a year on year basis. Operating profit of the company also registered an increase of 42.8% to Rs 9,009.8 crore on a year on year basis. Meanwhile operating margin also expanded from 9.9% a year ago to 12.7%.
Guenter Butschek, Managing Director And CEO At Tata Motors said, "Tata Motors has demonstrated impressive results with month-on-month growth in sales and market share, enabled by a slew of new product launches and customer-centric initiatives. With our turnaround plan in full action, we are seeing encouraging results and we will continue to drive sustainable profitable growth".
Operating margin of Jaguar Land Rover stood at 11.8% in comparison to 5.2% in the year-ago period.
After the Q2 results, stock of the company at 2:48pm was quoting at Rs. 440.95 up by Rs. 2.25 on the BSE.