Tata Motors Financial Result Ending December 31, 2014

Tuesday, 10 February 2015


Mumbai - Tata Motors has reported consolidated revenues (net of excise) of Rs.69,973 crores) for the quarter ended December 31, 2014, a growth of 9.6% over Rs.63,853 crores for the corresponding quarter last year, despite continuing weak operating environment in the standalone business.


The Consolidated Profit before tax for the quarter stood at Rs.5,732 crores, a decrease of 6.4% over Rs.6,127 crores for the corresponding quarter last year. The Consolidated Profit after tax (post minority interest and profit / loss in respect of associate companies) for the quarter was Rs.3,581 crores, a drop of 25.5% over Rs.4,805 crores for the corresponding quarter last year.


The consolidated revenue (net of excise) for the nine months ended December 31, 2014, was Rs.1,95,220 crores posting a growth of 16.5% over Rs.1,67,516 crores for the corresponding period last year. The Consolidated Profit before tax for the nine months ended December 31, 2014 was Rs.18,932 crores, a growth of 37.0% over Rs.13,816 crores for the corresponding period last year. The Consolidated Profit after tax (post minority interest and profit / loss in respect of associate companies) for the nine months ended December 31, 2014 was Rs.12,270 crores, a growth of 21.8% over Rs.10,073 crores for the corresponding period last year.


Tata Motors Standalone Financial Results for the Quarter and Nine months ended December 31, 2014.


In the MHICV segment, positive economic sentiment, firm freight rates and improved freight availability, lower fuel prices and improved profitability of truck operators led to replacement demand which supported the Company sales growth in this segment of 42.9% Y-o-Y in Q3 FY 2014-15. However, LCV segments (mainly the SCV) continued to be impacted by low transportation tonnage and vehicle over-capacity as well as constrained financing environment.


As a result, the overall CV sales were down 8.5% Y-o-Y in Q3 FY 2014-15. New launches in the Prima LX and Ultra range as well as other product enhancements provides a strong foundation for the future growth.


The ZEST small sedan received a very strong and encouraging response from the customers which led to the passenger vehicles segment of the company showing a growth of 4.6% Y-o-Y with car segment growth of 16.8% Y-o-Y in Q3 FY 2014-15. ZEST has won several awards in the Compact sedan segment since its launch.


The sales (including exports) of commercial and passenger vehicles for the quarter ended December 31, 2014, stood at 1,27,484 units, down by 3.5%, as compared to the corresponding quarter last year. The revenues (net of excise) for the quarter ended December 31, 2014 stood at Rs.9,056 crores, as compared to Rs.7,770 crores for the corresponding quarter last year.


Pre and post tax loss for the quarter ended December 31, 2014 was Rs.2,105 crores and Rs.2,123 crores, respectively, against Profit before and after tax of Rs.621 crores and Rs.1,251 crores, respectively, for the corresponding quarter last year. Loss before tax for the quarter ended December 31, 2014 includes profit of Rs.13 crores on divestment of investment in a foreign subsidiary company to TML Holdings Pte Ltd, Singapore, a wholly owned subsidiary (Rs.1,948 crores for the corresponding quarter last year), provision of Rs.310 crores to the carrying cost of buildings at Singur due to uncertainty on the timing of the resolution of the legal case pending in the Supreme Court of India and the unamortised exchange loss of Rs.216 crores due to the prepayment of the existing foreign currency borrowings with new foreign currency borrowings in the quarter.


The revenues (net of excise) for the Nine months ended December 31, 2014, stood at Rs.25,510 crores as compared to Rs.25,743 crores in the corresponding period last year. Loss before and after tax for nine months ended December 31, 2014 was Rs.2,818 crores and Rs.3,575 crores, respectively, against the Profit before and after tax of Rs.391 crores and Rs.1,151 crores, respectively, for the corresponding period last year.


Tata Motors vehicles are imported into Australia by Fusion Automotive, which is part of the Walkinshaw Group and established late 2013 to market the six-model, Tata Xenon LCV range.

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