Tata Motors shares dropped as much as 5 per cent in early trade on Tuesday as the net profit in the March quarter halved as compared with a year ago. However, fourth quarter (Q4) earnings still beat analyst expectations despite being muted. The Jaguar Land Rover (JLR) continued to struggle in China, pulling down earnings, but showed signs of improvement due to the cost-cutting measures taken by the company. At 9:35 am, Tata Motors shares were trading down 4.7% to Rs 181.20. The stock had closed 7.5% higher on Monday.
Here are Tata Motors Q4 earnings in 10 points:
1. Tata Motors reported a 49% fall in its consolidated net profit at Rs 1,108 crore during the March quarter compared with a profit of Rs 2,175 crore in the year-ago period.
2. Revenue of the company declined 2.8% to Rs 86,422 crore against Rs 89,928.97 a year ago.
3. Ebitda (Earnings before interest, tax, depreciation and amortization), or operating profit, was at Rs 8,449.5 crore during the March quarter
4. Tata Motors posted Ebitda margins of 9.7% during the March quarter, much lower than the 11.9% recorded a year ago, but higher than the previous quarter’s 7.9%.
5. JLR swung to a profit in the final quarter of the year, with the business posting £120 million of pre-tax profit during the March quarter. Though, it suffered a loss of £3.6 billion for the full year to March.
6. JLR’s sales in the final quarter were down £461 million to £7.1 billion compared with a year ago, with higher revenues in the UK offsetting another slide in China.
7. JLR reported a cash flow of £1.4 billion for Q4, reflecting improved working capital and investment savings.
8. Tata Motors’ standalone profit after tax came in at Rs 106.19 crore over loss of Rs 499.94 crore in the same period last year.
9. Standalone revenue from operations fell to Rs 18,561.41 crore in the March quarter against Rs 19,173.46 crore in the same period last year.
10. Tata Motors recorded a consolidated loss of Rs 28,724 crore in 2018-19 against a profit of Rs 9,091 crore a year ago.
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