Jaguar Land Rover Consolidated Financial Results for the Quarter ended June 30, 2017
For the quarter ended June 30, 2017, Tata Motors reported consolidated revenues (net of excise) of Rs.58,651 crores as against Rs.65,115 crores for the corresponding quarter last year. Consolidated revenues for the quarter are lower by Rs.7,761 crores due to translation impact from GBP to INR. Consolidated Profit before tax for the quarter was Rs.3,737 crores, against Rs.2,551 crores for the corresponding quarter last year. Consolidated Profit before tax for the quarter includes one- time gain of Rs.3,609 crores (£437million) relating to the changes made to the Jaguar Land Rover pension plans.
The Operating performance broadly reflects:-
In Jaguar Land Rover business- Lower wholesale volumes excluding the China JV, and continuation of higher competitive incentive levels and launch and growth costs seen in FY17. In Standalone business- Significant de-growth in the M&HCV segment, flat LCV segment and moderate growth in Passenger vehicle segment.
Consolidated Profit after tax (post profit / loss in respect of joint ventures and associate companies) for the quarter was Rs.3,200 crores, against the Consolidated Profit after tax (post profit / loss in respect of joint ventures and associate companies) of Rs.2,260 crores for the corresponding quarter last year. Consolidated Profit after tax (post profit / loss in respect of joint ventures and associate companies) for the quarter are lower by Rs.793 crores due to translation impact from GBP to INR.
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