Published: Чт, Февраля 08, 2018
Markets | By Noel Gibbs

Brexit 'uncertainty' drags Tata Motors profits

Brexit 'uncertainty' drags Tata Motors profits

It reported a standalone profit of Rs 1.83 billion in October-December of FY18 against losses of Rs 10.46 billion in the corresponding quarter of the previous year.

The turnaround strategy for India market seems to be working as the company reported profits of ₹183 crore on a standalone basis compared to a loss of ₹1,045 crore in the corresponding period a year ago. On a standalone basis, Tata Motors India returned to the black with a net profit of Rs 183.65 crore on a revenue of Rs 16,102 crore, up 59 per cent.

Tata Motors will put on display its new H5 5-7 seater SUV vehicle based on the Land Rover Discovery Sport model at the Auto Expo beginning in nearby Greater Noida on Wednesday. Standalone volume rose 29 per cent from 1,32,000 units, with commercial vehicle volumes showing an increase of 34.4 per cent and passenger vehicles 17.5 per cent. The company here said that its turnaround strategy was well on track in the domestic operations.

"The regulatory landscape on emission norms including BS VI, EVs and alternative fuel sources are significant challenges for the industry and Tata Motors is ready to play its part, while we continue on our journey to drive competitive, profitable growth".

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While the quarter saw an improvement in market share of both its commercial and passenger vehicles, the growth was driven by increased demand for high tonnage vehicles, new products, government funding in infrastructure development and e-commerce growth.

Chandrasekaran, in May past year, had raised serious concerns over the falling market share of the company.

Tata Motors expects Q4 2018 to be better compared to Q3 in terms of revenues and profitability on the back of a stronger performance with newer models and seasonality. It is has "accelerated" plan with frequent new launches, newer technologies, cost-cutting measures, enhanced stakeholder engagement and aggressive market activation. "However, consistency is the key and Tata Motors will have to keep doing it month after month", said Abdul Majeed, Partner, Price Waterhouse. In order to correct the perception of poor after sales services, Tata Motors is revamping its after-sales service dealerships in a big way and plans to increase it to over 1,500 in the next two years.

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