Tata Motors Group sees rise in Q3 revenues

Company sees strong growth in all major global markets

The Tata Motors Group has reported consolidated revenues for the quarter ended 30 September 2010 of INR287.82bn, posting a growth of 36.5% over INR21bn in the corresponding quarter of the previous year, with strong volume growth globally in all major markets.

The consolidated profit before Tax (PBT) for the quarter was INR25.23bn, compared to a PBT of INR2.87bn for the corresponding quarter last year.

Tata Motors gross revenue for the quarter ended 30 September 2010 was INR124.75bn (prior year period INR85.92bn).

Revenues (net of excise) of INR115.04bn represented a growth of 44.2% over INR79.78 bn in the corresponding quarter last year.

The consolidated profit for the period (post minority interest and profit in respect of Associate companies) for the quarter was INR22.23bn, a significant increase from a profit of INR.22bn in the corresponding quarter last year.

The consolidated revenues (net of excise) for the first half year ended 31 September 2010 was INR558.38bn posting a growth of 48.7% over INR375.61bn in the first half last year.

The consolidated profit (post minority interest and profit in respect of Associate companies) for the first half year was INR42.12bn as compared to loss of INR3.07bn in the first half last year.

The standalone revenues for the first half year ended 30 September 2010 was INR219.20bn posting a growth of 52.4% over INR143.82bn in the first half last year.

In the domestic market, the company's commercial vehicles sales increased by 23.4% year-on-year to 110,630 units. The company's market share in commercial vehicles was 61.1%.

Passenger vehicles, including Fiat and Jaguar and Land Rover vehicles distributed in India, grew by 35.5% year-on-year in the domestic market to 82,564 units driven by continued overwhelming response to the Tata Indigo Manza, the Tata Indica Vista and the Tata Nano.

The market share in passenger vehicles stood at 14.06% as compared to 12.86% in first half of FY2009-10. Driven by the Manza, the company's exit market share in the entry-midsize segment has increased substantially to 42.7% compared to 25% in September, 2009.