Tata Motors, the world’s largest automaker, is anticipated to post good financial results for the three months ended June 2023, driven by rising margins and robust sales at its luxury unit Jaguar and Land Rover (JLR).
Live results for Tata Motors’ first quarter show a 2,600 crore net profit.
According to average analyst predictions, Tata Motors Q1 net profit will be $2,600 crore, up from a loss of $5,731 crore in the same period last year.
This quarter could be profitable for the automaker
The rising margins and robust sales in its luxury unit Jaguar and Land Rover (JLR) would likely be the driving forces behind Tata Motors’ expected positive financial performance for the quarter ended June 2023. According to average analyst projections, the company will turn a profit this quarter and record a net profit of 2,600 crores, up from a loss of 5,731 crores in the same quarter last year.
Live results for Tata Motors’ Q1: 43% YoY gain in total revenue
The strength of the premium division Jaguar Land Rover (JLR) is predicted to fuel a surge of about 43% in Tata Motors’ consolidated revenue in Q1FY24 to $1,03,284 crore. The Passenger Vehicle (PV) business of Tata Motors experienced volume growth of 8% YoY during the quarter.
Net profit is expected to be $2,600 crore, and JLR margins may increase
Preview of Tata Motors Q1 results: Tata Motors, the world’s largest automaker, is anticipated to post good financial results for the three months ended June 2023, driven by rising margins and robust sales at its luxury unit Jaguar and Land Rover (JLR). Read the complete report here.
JLR is predicted to experience robust volume growth of 30% YoY.
It is anticipated that Jaguar Land Rover (JLR), a division of Tata Motors and a manufacturer of luxury vehicles, will have a robust volume rise of 30% YoY due to increased production rates, reduced chip shortages, and ongoing interest in new models.
Live results for Tata Motors’ Q1: Probable strong operating performance YoY
In Q1FY24, Tata Motors is anticipated to publish solid operational results. Its combined profits before interest, tax, depreciation, and amortization (EBITDA) increased 129% year over year to 13,450 crore in the first quarter.
EBITDA margin is anticipated to rise to 13.4%, up 522 basis points (bps) from last year.
Emkay predicts a 44% increase in consolidated revenue for Tata Motors.
Strong performance from JLR (+70% YoY with 30% greater volumes due to increased production levels) is expected to propel Tata Motors to report consolidated revenue growth of 44%. We anticipate a 90 bps QoQ decline in consolidated EBITDA margin to 11.2%, primarily as a result of poor mix and lower volumes in standalone (India CV) operations.
In advance of the release of the Q1 results, Tata Motors shares reached a 52-week high.
On the BSE, Tata Motors shares reached a 52-week high of 641.50 per share on Tuesday, rising by about 2% before the release of Q1 earnings.
This year, the share price of Tata Motors has sharply risen. The stock has increased by about 35% in the last three months, giving it a YTD gain of 64%.
JLR India recorded record-breaking sales for the June quarter
According to the corporation, JLR India experienced its best first-quarter sales ever in the nation from April to June 2023. In the June quarter, its retail sales increased by 102% YoY to 1,048 units.
Live Q1 results from Tata Motors: Adrian Mardell is named CEO of JLR
Adrian Mardell was appointed Jaguar Land Rover’s (JLR) Chief Executive Officer for a three-year term on July 20. Mardell served as JLR’s Chief Financial Officer and a member of the board of directors for three years prior to being named Interim Chief Executive Officer on November 16, 2022.
Richard Molyneux had also been named the company’s new chief financial officer, according to JLR. According to the statement, after six years as Finance Director, Operations, Richard Molyneux was named Acting Chief Financial Officer on December 12, 2022.
Live Q1 sales figures from Tata Motors show a 2% decrease year over year to 2,26,245 cars.
Total domestic and international sales for Tata Motors for Q1FY24 decreased by 2.16% to 2,26,245 vehicles from 2,31,248 units in Q1FY23.
The company’s total domestic sales for the quarter fell by 2% to 2,22,345 units from 2,25,828 units year over year.
