Tata Motors reports consolidated Q4FY23 net profit of Rs 5,407.79 cr
Mumbai: Tata Motors announced a significant turnaround in its financial performance, posting a consolidated net profit of Rs 5,407.79 crore for the quarter ending in March.
This marks a substantial improvement from the net loss of Rs 1,032.84 crore reported in the same quarter last year.
The company also witnessed a notable growth in revenue from operations, which amounted to Rs 1,05,932.35 crore, showing a 35.05% increase compared to the corresponding quarter of the previous year.
Furthermore, the Board of Directors at Tata Motors has recommended a final dividend of Rs 2 per ordinary share and Rs. 2.1 per share for DVR (Differential Voting Right) shareholders, pending approval by the shareholders at the Annual General Meeting (AGM).
Tata Motors' luxury car unit, Jaguar and Land Rover, based in the UK, reported revenue of £7.1 billion for the fourth quarter, reflecting year-on-year growth of 49%. This increase can be attributed to the improved chip supply situation.
During the period, the unit's wholesale figures for the quarter reached 94,649 units, marking a 24% year-on-year rise.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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