Tata Motors Shares Surge 5% on Strong Q2 Earnings

New Delhi, Nov 3 (PTI) Shares of Tata Motors climbed nearly 5 per cent in morning trade on Friday, after the company reported a consolidated net profit of Rs 3,783 crore for the September quarter, riding on robust performance by its British arm Jaguar Land Rover.

The stock gained 4.49 per cent to Rs 665.45 on the BSE.

At the NSE, it climbed 4.64 per cent to Rs 666.

This is the fourth successive quarter of positive results for the homegrown 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, as compared with 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 for 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, up 30 per cent year-on-year, driven by higher wholesales, better mix, cost reductions and investment in demand generation.