Tata Motors Q4 net down nearly 50 per cent to Rs 2,176 crore

Tata Motors said that in 2017-18 consolidated net profit was at Rs 9,091.36 crore as against Rs 7,666.56 crore in the previous fiscal, up 18.58 per cent. (File Photo)

Tata Motors has reported a 49.82 per cent decline in consolidated net profit at Rs 2,176.16 crore for the March quarter as against a net profit of Rs 4,336.43 crore in the corresponding period of last fiscal with its British arm Jaguar Land Rover (JLR) continuing to face challenges in the UK and Europe, in addition to one time impairment charge.

The company’s consolidated income from operations in the fourth quarter of 2017-18 was Rs 91,279.09 crore against Rs 78,746.61 crore in the year-ago quarter. The company said an exceptional debit of Rs 1,641.38 crore was provided after it reviewed product development programmes in capital-work in progress and consequently provided for impairment during the quarter. The two figures are not comparable due to GST implementation from July 1 last year, after which revenue from operations is reported net of GST.

Tata Motors said that in 2017-18 consolidated net profit was at Rs 9,091.36 crore as against Rs 7,666.56 crore in the previous fiscal, up 18.58 per cent. Tata Motors chairman N Chandrasekaran said in a statement, “In FY18, JLR delivered profitable growth despite challenging market conditions… In near terms, the challenges of market … are likely to persist. In the domestic business, the ‘Turnaround’ results are clearly visible …”