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The combined sales of Jaguar and Land Rover to dealerships rose 28% to 56,700 vehicles from 44,300 units in the second quarter. Land Rover sales increased 34% from the second quarter, helped largely by new models it launched in 2009. Sales of Jaguar rose 12% over the July-September quarter because of strong growth of its XF model.
"Cost-cutting measures are still on in JLR. We are trying to reduce material costs," said C. Ramakrishnan, chief financial officer of Tata Motors.
"We have already cut our [JLR] staff by 2,000 people and the impact of these cost-cutting measures will be seen in coming quarters," he said.
India's biggest auto maker by revenue said it posted consolidated net profit of 6.5 billion rupees ($141 million) for the quarter ended Dec. 31, compared with a consolidated net loss of 25.99 billion rupees a year earlier.
Consolidated net sales surged 48% to 259.8 billion rupees from 175.35 billion rupees.
The company's shares jumped after the results and closed up 6.33% at 711.05 rupees on the Bombay Stock Exchange. That compares with a 1.1% rise in the benchmark index.
The company said its gross profit margin for the quarter was 11.74%.
"Things have started turning around," said Ravi Kant, vice chairman of Tata Motors. "The Jaguar-Land Rover profit is a big turnaround. Cost reduction is happening and that has been reflected in the bottom line. We hope to continue on this path in the future," Mr. Kant said.
The company said the U.K.-based Jaguar and Land Rover brands, which it had acquired from Ford Motor Co. in June 2008, posted a net profit of 4.16 billion rupees for the third quarter. It didn't provide comparative figures.
"Very In_ter_est_ ing Shultz!" (Colonel Klink)
The combined sales of Jaguar and Land Rover to dealerships rose 28% to 56,700 vehicles from 44,300 units in the second quarter. Land Rover sales increased 34% from the second quarter, helped largely by new models it launched in 2009. Sales of Jaguar rose 12% over the July-September quarter because of strong growth of its XF model.
"Cost-cutting measures are still on in JLR. We are trying to reduce material costs," said C. Ramakrishnan, chief financial officer of Tata Motors.
"We have already cut our [JLR] staff by 2,000 people and the impact of these cost-cutting measures will be seen in coming quarters," he said.
India's biggest auto maker by revenue said it posted consolidated net profit of 6.5 billion rupees ($141 million) for the quarter ended Dec. 31, compared with a consolidated net loss of 25.99 billion rupees a year earlier.
Consolidated net sales surged 48% to 259.8 billion rupees from 175.35 billion rupees.
The company's shares jumped after the results and closed up 6.33% at 711.05 rupees on the Bombay Stock Exchange. That compares with a 1.1% rise in the benchmark index.
The company said its gross profit margin for the quarter was 11.74%.
"Things have started turning around," said Ravi Kant, vice chairman of Tata Motors. "The Jaguar-Land Rover profit is a big turnaround. Cost reduction is happening and that has been reflected in the bottom line. We hope to continue on this path in the future," Mr. Kant said.
The company said the U.K.-based Jaguar and Land Rover brands, which it had acquired from Ford Motor Co. in June 2008, posted a net profit of 4.16 billion rupees for the third quarter. It didn't provide comparative figures.
"Very In_ter_est_ ing Shultz!" (Colonel Klink)
