Tata Motors Q3 Results: Profit falls 22% YoY to Rs 5,451 crore, misses estimates


Leading auto company Tata Motors‘ third-quarter profit missed the Street estimates by a wide margin as the bottom line fell 22% YoY to Rs 5,451 crore.

The profit was way below the ET Now poll estimates of Rs 6,791 crore.

However, the revenue from operations increased 3% YoY to Rs 1.13 lakh crore.

Consolidated EBITDA during the third quarter came in at Rs 15,500 crore, which is a strong increase over the preceding September quarter as supply-related challenges eased.

On a sequential basis, earnings improved substantially. The profit jumped 63% from Rs 3,343 crore posted in the second quarter.

Growfast


“The fundamentals of the business are strong and therefore despite external challenges we are confident of delivering another strong performance this year,” said PB Balaji, Group CFO, Tata Motors.Segment-wise, CV revenues were down 8.4% YoY to Rs 18,400 crore. However, EBITDA margins improved 130 bps YoY to 12.4%, led by savings in commodity costs and PLI incentives.



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