Tata Motors announced a substantial rise in consolidated net profit for the quarter ended June 2017. During the quarter, the profit of the company rose 41.56% to Rs 31,999.30 million from Rs 22,604 million in the same quarter last year.

 

Revenues for the quarter declined 9.60% to Rs 599,723.30 million, compared with Rs 663,394.80 million for the prior year period.

 

 

Earnings per share for the quarter stood at Rs 9.45, registering 41.68% growth over previous year period.

 

Guenter Butschek, MD & CEO Tata Motors, said, ''While the first quarter results have not met our expectations, we are working with renewed focus and energy to improve performance of our Commercial and Passenger Vehicle businesses. Our focus on topline, market share growth, major cost reduction initiatives and efficiency improvements have been significantly enhanced and accelerated in the last few months. Leveraging the expected market recovery, we are confident that these initiatives will help us to present significant improvement of our financials in the coming quarters.''

 

 

 

                                             

Quarterly Results - Consolidated (Rs in mn)
As at	Jun - 17	Jun - 16	%Change
Revenues	599,723.30	663,394.80	(9.60)
Net Profit	31,999.30	22,604.00	41.56
Diluted EPS	9.45	6.67	41.68

 

Shares of the company declined Rs 13.65, or 3.17%, to settle at Rs 416.75. The total volume of shares traded was 779,946 at the BSE (Wednesday).