Tata Motors bottomline surges 11-fold in Q3FY18
Tata Motors consolidated revenue for the quarter came in at Rs 74156.07 crore, registering an increase of 14.2 per cent YoY.
Jaguar Land Rover’s retail sales rose 3.5 per cent to 154,447 units YoY, whereas wholesale sales rose 2.2 per cent to 133,739 units.
The Chinese and overseas markets were up, while the UK, US and European markets were down, reflecting more challenging conditions with cyclical weakness in the UK and the US.
The company's CV segment registered growth on account of increased demand for high tonnage vehicles, newly-launched products, government funding in infrastructure development and e-commerce growth.
Its EBITDA for the quarter rose by 80 per cent YoY to Rs 8,670 crore, with a corresponding margin expansion of 428 bps. The EBITDA margin for the quarter stood at 11.7 per cent.
The PAT for the quarter came in at Rs 1214.6 crore as against the PAT of Rs 111.57 crore in the corresponding quarter last year. This includes an exceptional gain of Rs 716.57 crore in Q3FY17.
During Q3FY18, Jaguar Land Rover (JLR) issued USD 500 million bond with coupon rate of 4.5 per cent maturing in 2027. The net proceeds from the issue will be used for general corporate business, including support for ongoing growth and capital spending plan.
On Monday, the Tata Motors stock opened at Rs 381.65 and touched an intra-day high and low of Rs 398.40 and Rs 380.45, respectively, and closed at Rs 396.05 on the BSE.