Tata Motors Q4 Results

Tata Motors' net profit for the March 2024 quarter increased by 222% to Rs 17,407.18 crore due to softening commodity prices and strong volumes.

In the fourth quarter of the financial year 2023-24, the company's revenue increased by 13% to Rs 1,19,986.31 crore.

The company's revenue in the same period a year ago was Rs 1,05,932.35 crore. On May 10, the company's shares closed at Rs 1,046.65 on the National Stock Exchange (NSE) with a rise of 1.59 per cent.

Group Chief Financial Officer of Tata Motors P.B. Balaji said, 'The results of financial year 2024 have been much better.

During this period, Tata Group has achieved record revenue, profit and free cash flow. The company's Indian business is now debt free and we are now on track to become net automotive debt free by FY 2025.

Our business is doing well and we expect our strong performance to continue in the coming years.

The company's results have been better than expectations. Moneycontrol, with the help of 6 brokerage firms, had estimated the company's profit to increase by 33% to Rs 7,084 crore in the March 2024 quarter.

Apart from this, the company's revenue was estimated to increase by 15 percent to Rs 1.22 lakh crore.

The company's board has also recommended dividend for the financial year ending March 31, 2024. Under this, a dividend of Rs 6 per share for ordinary shares and Rs 6.20 per share for 'A' ordinary shares has been recommended.

Tata Motors had said last week that its wholesale business in April increased by 11.5 percent to 77,521 units, whereas in April 2023 this figure was 69,599 units.

The strong performance of the company's Jaguar Land Rover (JLR) unit continued in the last financial year and the company's performance was better in the March 2024 quarter.

During this period, the company's revenue increased by 11 percent to 7.9 billion dollars and pounds.