Tata Motors Q1 Results 2024: Net Profit Jumps 73.7% to Rs 5,566 Crore, Revenue Up 5.7%

Tata Motors Q1 Results 2024: Tata Motors on Thursday declared its Q1 financial results. The auto major posted a 73.77 per cent jump in its net profit to Rs 5,566 crore for the June 2024 quarter. Its revenue from operations during April-June 2024 rose 5.7 per cent to Rs 1,07,316 crore, compared with Rs 1,01,528 crore in the year-ago period. With this, Tata Motors has surpassed all estimates.

The company’s shares have risen substantially in the past one week, gaining over 11 per cent to Rs 1,144.6 apiece on the BSE. However, its shares on Thursday fell 1.21 per cent ahead of the results.

Jaguar Land Rover’s (JLR) revenues grew by 5.4 per cent to £7.3 billion, with EBIT margins of 8.9 per cent (+30 bps) driven by favourable volume, mix and material cost improvements, according to a regulatory filing.

Tata Motor’s commercial vehicle revenues grew 5.1 per cent to Rs 17.8K crore and Ebit margins improved to 8.9 per cent (+240 bps) benefiting from better realisations and material cost savings.

Ebit stands for earnings before interest and tax.

Its passenger vehicle revenues declined by 7.7 per cent, reflecting the challenging market conditions but Ebitda at 5.8 per cent was up +50 bps driven by material cost reductions. Ebitda stands for earnings before interest, tax, depreciation and amortisation.

(The story will be updated)