[ad_1]
The company had posted a consolidated net profit of ₹5,496.04 crore in the same quarter of the previous fiscal, Tata Motors said in a regulatory filing.
Total consolidated revenue from operations stood at ₹1,19,986.31 crore, as compared to ₹1,05,932.35 crore in the year-ago period.
In Q4 FY24, Tata Motors said all three auto businesses delivered strong performance.
The company’s British arm Jaguar Land Rover had “another record-breaking quarter in Q4 FY24.
Revenue for the quarter was 7.9 billion pounds, up 11 per cent versus Q4 FY23″, Tata Motors said.
JLR’s Profit After Tax (PAT) in Q4 was 1.4 billion pounds as against a profit of 259 million pounds in the same quarter a year ago, it added.
The Board of Directors have recommended a final dividend of ₹3 per ordinary share and ₹3.10 per ‘A’ ordinary share and a special dividend of ₹3 per ordinary share and ₹3.10 per ‘A’ ordinary share subject to approval by the shareholders.
For the fiscal ended March 31, 2024, consolidated net profit was at ₹31,806.75 crore as compared to ₹2,689.87 crore in the previous fiscal, the company said.
In FY24, total consolidated revenue from operations stood at ₹4,37,927.77 crore as compared to ₹3,45,966.97 crore in FY23.
Tata Motors Group Chief Financial Officer, PB Balaji said in FY24 the Tata Motors Group delivered its highest-ever revenues, profits, and free cash flows.
“The India business is now debt-free, and we are on track to become net automotive debt-free on a consolidated basis in FY25. The businesses are executing well on their distinct strategies and therefore, we are confident of sustaining this strong performance in the coming years,” he added.
JLR’s revenues for FY24 were 29 billion pounds, its highest-ever full-year revenue and up 27 per cent compared to the prior year, while PAT for FY24 was 2.6 billion pounds.
“We have delivered a record financial performance for the company, generating free cash flow of 2.3 billion pound, enabling us to reduce net debt to 0.7 billion pound,” JLR Chief Executive Officer Adrian Mardell said.
The foundation of this performance was the sustained global demand for JLR’s modern luxury vehicles, led by Range Rover and Defender brands, underpinned by a consistent focus on operational improvement, he added.
Tata Commercial Vehicles’ Q4 FY24 revenue was at ₹21,600 crore, while FY24 revenue was ₹78,800 crore.
In Q4 FY24, domestic wholesale commercial vehicles (CV) volumes were 1,04,600 units, lower 7 per cent year-on-year on account of increased pre-buy in Q4 FY23 due to BS6 Phase II transition, the company said.
Tata Motors Ltd Executive Director Girish Wagh said the Indian CV industry grew by a modest 2 per cent in volumes during FY24, impacted by a high base effect of FY23, elections held across five states and the announcement of general elections.
“Our sharp focus on profitable growth resulted in the CV business recording its highest-ever revenues of ₹78,800 crore and profits of ₹6,100 crore in FY24. Going forward, we will intensify our efforts to grow market share, profitably and consistently, in every business segment by delivering more value to customers with innovative products, smarter services and holistic mobility solutions,” he added.
Tata Passenger Vehicles clocked revenue of ₹14,400 crore in Q4 while for the full year FY24 it was at ₹52,400 crore.
In Q4, Passenger Vehicle (PV) volumes were at 1,55,600 units, up 14.8 per cent from the year-ago period, supported by new SUV facelifts and multiple power trains, the company said.
“Passenger vehicle sales in India set a record in FY24 with over 4.2 million units sold, driven by SUVs (50 per cent of overall sales) and emission-friendly powertrains. Tata Motors recorded its third consecutive year of highest sales volumes with 6 per cent growth in wholesales and 10 per cent in retail sales over FY23,” Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility Managing Director Shailesh Chandra said.
The company sold 73,800 EVs during the year, marking a 48 per cent increase as compared to FY23 and crossed a milestone of 1.5 lakh cumulative EV production, he added.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates & Live Business News.
Published: 10 May 2024, 05:06 PM IST