Tata Motors Q3 Results FY2024, Net profit at Rs.7,145.43 crores

Shreya Anaokar 2nd February 2024 - 06:07 pm

On 2nd February, Tata Motors announced its quarterly results.

Key Highlights:

- Revenues from operations at Rs. 110,577.14 crores
- Profit before tax stood at Rs. 7,493.96 crores
- The company reported PAT at Rs. 7,145.43 crores

Business Highlights:

- JLR delivered another strong performance in Q3 FY24, increasing wholesales to fulfill more client orders in the quarter. Revenue for the quarter was £7.4 billion, up 22% versus Q3 FY23 and up 8% versus Q2 FY24
- In Q3 FY24, domestic wholesale CV volumes were 91.9K units, marginally higher 1.1% yoy. Exports were at 4.8K units increasing by 14% yoy. However, revenues improved by 19.2% yoy to ₹20.1K Crores on account of salience towards medium and heavy commercial vehicles and better market operating price.
- PV volumes were at 138.6K units (+5% yoy) supported by a strong supply situation, new SUV facelifts, and a robust demand during the festive period. Revenues were up 10.6% yoy at ₹ 12.9K Crores.

Commenting on the results, PB Balaji, Group Chief Financial Officer, Tata Motors said: “It is satisfying to see our businesses execute well on their differentiated strategies and deliver a strong set of results for the quarter, thereby making it six quarters of consistent delivery. We aim to end the year on a strong footing and remain confident of sustaining our performance in the coming quarters and delivering on our de-leveraging plans.”