Tata Motors posts Rs.2,223 crore profit

Mumbai, Nov 9 (IANS) Tata Motors Tuesday said its second quarter profit increased to Rs.2,223 crore as compared to just Rs.22 crore in the same quarter last year, on higher sales and turnaround in Jaguar Land Rover business.

The company’s total revenue surged 36.5 percent to Rs.28,782 crore for the quarter ended Sep 30, 2010 from Rs.21,088 crore in the corresponding quarter of previous year.

Jaguar Land Rover business continued to show strong profitability, with healthy volumes in the second quarter, reporting a profit after tax of Rs.1,715 crore, Tata Motors said in a statement here.

‘Both wholesale and retail volumes improved favourably as compared to the corresponding quarter in the prior year on the back of improved market conditions,’ it said.

The company has made a significant turnaround in the last one year. For the first six months of current fiscal Tata Motors has posted Rs.4,211.72 crore profit as against Rs.307 crore loss in the corresponding period last year.

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