Tata Motors Shares Rise After Strong Q2 Earnings

New Delhi, Nov 3 (PTI) Shares of Tata Motors ended nearly 2 per cent higher on Friday, after the company reported a consolidated net profit of Rs 3,783 crore in the September quarter, riding on robust performance by its British arm Jaguar Land Rover.

The stock ended at Rs 647.80, up 1.73 per cent on the BSE. During the day, it gained 4.49 per cent to Rs 665.45.

At the NSE, it ended with a gain of 1.62 per cent at Rs 646.80. During the day, it climbed 4.64 per cent to Rs 666.

In traded volume terms, 22.65 lakh shares of the company were traded at the BSE and over 2.30 crore shares at the NSE during the day.

This is the fourth successive quarter of positive results for the home-grown auto major.

The Mumbai-based company had posted a consolidated net loss of Rs 1,004 crore in the year-ago period.

Total consolidated revenue from operations stood at Rs 1,05,128 crore in the second quarter of this fiscal as compared to Rs 79,611 crore in the year-ago period, Tata Motors said in a regulatory filing on Thursday.

On a standalone basis, the company reported a net profit of Rs 1,270 crore in the September quarter, it added.

It had reported a net loss of Rs 293 crore during the same period last fiscal.

Jaguar Land Rover (JLR) reported a revenue of 6.9 billion pounds in the second quarter on this fiscal, up 30 per cent year-on-year, driven by higher wholesales, better mix, cost reductions and investment in demand generation.