Tata Motors reports Q4 net profit of ₹5,408 crore
The Hindu
Tata Motors Ltd. reported fourth-quarter consolidated net profit of ₹5,408 crore compared with a net loss of ₹1,033 crore in the year-earlier period owing to robust performance.
Tata Motors Ltd. reported fourth-quarter consolidated net profit of ₹5,408 crore compared with a net loss of ₹1,033 crore in the year-earlier period owing to robust performance.
Revenue grew 35% to ₹1,05,017 crore. For the financial year ended March 31, the company reported a net profit of ₹2,414 crore compared with a net loss of ₹11,441 crore inFY22. FY23 revenue grew 24.2% to ₹3,42,875 crore.
The board of directors has recommended a final dividend of ₹2 per ordinary share (100% of face value) and ₹2.1 per share for DVR shareholders.
On the outlook, the company said, “We remain optimistic on the demand situation despite near term uncertainties and expect a moderate inflationary environment in the near term.”
“In this context, we aim to further improve and deliver a strong performance in FY24. The momentum is expected to build through the year factoring in seasonality, stabilization of JLR supply chain and post real driving emissions (RDE) impact in India,” the company added.
P. B Balaji, Group Chief Financial Officer, Tata Motors said, “The year ended on a strong note with all automotive verticals delivering robust performances leading to multiple all-time high achievements.”
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