Shares of Tata Motors jumped over 4 per cent in morning trade on Monday to hit its 52-week high level, after the company reported a consolidated net profit of ₹5,408 crore in the March quarter.
It emerged as the biggest gainer among the Sensex firms.(REUTERS)
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The stock climbed 4.16 per cent to its 52-week high of ₹537.15 on the BSE.
At the NSE, it rallied 4.10 per cent to reach the 52-week high of ₹537.15.
It emerged as the biggest gainer among the Sensex firms.
Fuelled by rising domestic demand, pricing actions and easing supply chain issues, Tata Motors reported a consolidated net profit of ₹5,408 crore in the March quarter and aims to improve the profit margins this fiscal despite headwinds.
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After driving into the profitability lane, the homegrown auto maker expects to continue new product launches, debottleneck capacities and push EV penetration further to deliver “market-beating growth in coming years”.
The company had posted a consolidated net loss of ₹1,033 crore in the January-March quarter of 2021-22 fiscal, Tata Motors said in a regulatory filing on Friday.
Easing inflation, better mix, pricing actions and favourable operating leverage also resulted in strong improvements in margins and profits, the company stated.
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Total revenue from operations stood at ₹1,05,932 crore in the fourth quarter, as against ₹78,439 crore in the year-ago period, it added.
On a standalone basis, the automaker reported a net profit of ₹2,696 crore for the period under review, as against ₹413 crore in the fourth quarter of 2022-22.