Mumbai, November 10, 2017
Tata Motors Ltd today declared consolidated financial results for Q2 FY2018 reporting a consolidated revenue (net of excise) of Rs 70,156 crores in Q2 FY18 as against Rs 63,577 crores for the corresponding quarter last year, though lower by Rs 2,393 crores due to translation impact from GBP to INR.
Consolidated profit before tax (PAT) for the quarter was Rs 3,081 crores, against Rs 999 crores for the corresponding quarter last year. Consolidated profit after tax (PAT) for the quarter was Rs 2,502 crores against Rs 848 crores for the corresponding quarter last year, though lower by Rs 112 crores due to translation impact from GBP to INR.
The sales (including exports) of commercial and passenger vehicles stood at 152,979 units in Q2 FY18, a growth of 13.8 per cent, as compared to Q2 FY17, with an impressive growth across segments – 28 per cent in MHCV, 35 per cent in ILCV, 38 per cent in SCV and pick-ups. The passenger vehicles grew by 14.4 per cent versus the corresponding quarter last year.
The revenues (net of excise) for Q2 FY18 stood at Rs 13,400 crores, as compared to Rs 10,311 crores for the corresponding quarter last year, a growth of 30 per cent. Operating profit (EBITDA) for Q2 FY18 was Rs 971 crores versus Rs 336 crores for Q2 FY17, a growth of 189 per cent, with operating margin for Q2 FY18 at 7.2 per cent. Loss before and after tax for the quarter was at Rs 266 crores and Rs 295 crores, against loss before and after tax of Rs 609 crores and Rs 631 crores, respectively, for the corresponding quarter last year.
Tata Motors reported consolidated revenue of Rs 128,807 crores in H1 FY18 against Rs 128,692 crores for the corresponding period last year. The consolidated PAT was Rs 3,198 crores against Rs 3,071 crores for the corresponding period last year. Post the exceptional items, the Consolidated Profit before and after tax (post profit / loss in respect of associated companies) for H1FY18 was Rs 6,818 crores and ?5,702 crores, respectively, as against Rs 3,551 crores and Rs 3,109 crores, for the corresponding period last year.
For the half year ended September 30, 2017, the revenue was Rs 22,607 crores against Rs 20,704 crores for the corresponding period last year, a growth of nine per cent. Loss before tax for H1FY18 was Rs 733 crores against Rs 571 crores for the corresponding period last year. Loss after tax for H1FY18 was Rs 762 crores as against Rs 605 crores for the corresponding period last year.
The commercial vehicles business market share grew by 1.7 per cent YoY and 3.9 per cent QoQ on the back of newly launched products, increased acceptance of SCR technology, improved stakeholders’ engagement and aggressive market activation, well complemented at back end by steep ramp-up of production. In passenger vehicles business, new products like Tiago, Tigor and Hexa continue to drive sales momentum. Tata Nexon, the newly launched compact SUV has received overwhelming response from the market as well.
Guenter Butschek, MD and CEO Tata Motors, said, “After a challenging first quarter, Tata Motors has demonstrated impressive results with month-on-month growth in sales and market share, enabled by a slew of new product launches and customer centric initiatives. With our turnaround plan in full action, we are seeing encouraging results and we will continue to drive sustainable profitable growth to meet our future aspirations.”