Revenues (net of excise) of the standalone business (including joint operations) for the quarter ended 31 December 2016 stood at Rs10,167 crore, compared to Rs10,019 crore for the corresponding quarter past year. Revenues grew marginally to Rs10,167 crore from Rs10,019 crore.
Tata Motors said that its M&HCV segment (medium & heavy commercial vehicles) shrunk while LCV segment (light commercial vehicles) results were flat. Exports grew 34.6 per cent y-o-y.
Jaguar Land Rover saw a big fall in its pre-tax profit figure for the last three months of 2016 despite rising sales for its luxury cars. This resulted in a fall in margins to 9.3% from 14.4%.
Its overseas business, Jaguar Land Rover (JLR) were hit by operational weakness and huge foreign exchange losses, according to the company.
"We expect a strong fourth quarter for M&HCV".
Earlier in February, Tata Motors unveiled a new brand called TAMO, aimed at testing new technologies and enabling the company to become more responsive to changing market trends.
Operating profit (EBITDA) of the standalone business for the quarter stood at Rs153 crore with operating margin at 1.5 per cent. Loss before and after tax for the quarter ended 31 December 2016 was Rs1,032 crore and Rs1,046 crore, respectively, against Rs139 crore and Rs137 crore, respectively, for the corresponding quarter previous year.
Slashing its earnings per share (EPS) for Tata Motors, the brokerage said the double whammy of weak domestic commercial vehicle sales and political uncertainty in Britain triggered by Brexit need to be watched out for, besides developments in the US.
The company is also implementing a management transformation from the beginning of April aimed at bringing in speed, simplicity and agility to deal with market volatility, he said.
Prime minister Narendra Modi's demonetisation drive removed around 86 per cent of India's cash at a stroke, triggering massive queues outside banks and a cash shortage that has hit businesses across the country.
Other issues facing JLR include Britain's Brexit vote and U.S. President Donald Trump's promised protectionist policies, according to a January 20 report by Mumbai-based IDFC Securities.