Jaguar Land Rover helps Tata Motors triple profits in Q4

Tata Motors made the announcement in a regulatory filing today. The carmaker said the boost in tax credit and strong sales at its luxury unit Jaguar Land Rover are likely to boost profits. Tata saw an increase in consolidated income from its operations ₹to 1,19,986.31 crores ₹1,05,932.35 crore which during the same period last year was Rs. Between January and March last year, Tata posted a consolidated net profit ₹5,496 crores.

The icing on the cake for Tata was the performance of its British arm Jaguar Land Rover (JLR). Best known as the maker of the Ranger Rover and Defender SUVs, JLR was key to Tata Motors’ success last quarter, accounting for nearly two-thirds of its consolidated revenue. In another record quarter, JLR reported revenue of 7.9 billion pounds, an increase of nearly 11 percent compared to the same period last year. Its profit was 1.4 billion pounds, up from 259 million pounds in the same quarter a year ago. Rising demand for JLR’s luxury vehicles, led by the Range Rover and Defender, enabled the carmaker to clock record revenues.

Revenues were seen in Tata Motors’ passenger vehicles business ₹14,400 crore. During this period, Tata sold over 1.55 lakh cars, which is almost 15 percent higher than the same period last year. “Sales of passenger vehicles in India set a record with 4.2 million units sold in FY24, driven by SUVs (50 per cent of overall sales) and emission-friendly powertrains. Tata Motors recorded the highest sales volume for the third consecutive year at 6 per cent. In FY23, wholesale and retail 10 per cent growth in sales,” said Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility. During the period, Tata sold 73,800 electric vehicles, a growth of 48 percent. Tata has also achieved the milestone of producing 1.5 lakh EVs, the highest by a carmaker in India.

Date of first publication: 10 May 2024, 5:30 PM IST