Tata Motors Q4 Result: Auto giant Tata Motors announced a consolidated net profit of Rs 17,407.18 crore for the quarter ending March 31 (Q4) in the financial year 2023-24 (FY24) on Friday. This marked an impressive 222 per cent surge in profit compared to Rs 5,407.79 crore reported during the corresponding period last year. Sequentially, profit witnessed a robust 49 per cent growth from Rs 11,666.07 crore in Q3.
The company’s revenue from operations stood at Rs 1.19 trillion, reflecting a 13.5 per cent year-on-year (YoY) increase from Rs 1.05 trillion. Sequentially, revenue registered an 8.6 per cent rise from Rs 1.10 trillion. In April, Tata Motors saw a 12 per cent uptick in total domestic dispatches with 76,399 units compared to 68,514 units in April 2023.
In the financial year, the company’s subsidiary, Jaguar Land Rover (JLR), continued its robust financial performance, achieving yet another record-breaking quarter in Q4 FY24. JLR recorded revenue of 7.9 billion British pounds for the quarter, marking an 11 per cent increase compared to Q4 FY23 and a 6 per cent rise compared to Q3 FY24. Additionally, JLR’s revenues for FY24 reached 29.0 billion British pounds, representing its highest-ever full-year revenue and an impressive 27 per cent increase compared to the previous year.
Throughout the financial year, Tata Motors saw its net profit soar to Rs 37,764.33 crore, a substantial increase from Rs 479.20 crore reported at the end of FY23. The company’s revenue from operations also experienced remarkable growth, reaching Rs 4.35 trillion compared to Rs 3.43 trillion, indicating a 27 per cent YoY growth.
The board of directors proposed a final dividend of Rs 6 per ordinary share with a face value of Rs 2 each, comprising Rs 3 as a regular dividend and Rs 3 as a special dividend.
Speaking on the results, P B Balaji, group chief financial officer, said, “It is pleasing to report the FY24 results, during which Tata Motors Group delivered its highest-ever revenues, profits, and free cash flows. The India business is now debt-free, and we are on track to become net automotive debt-free on a consolidated basis in FY25. The businesses are executing well on their distinct strategies and, therefore, we are confident of sustaining this strong performance in the coming years.”
Also Read: SBI Q4 Result: Profit Surges 24% To Rs 20,698 Crore; Announces Rs 13.70 Dividend
