TaMo Q4 consolidated net up 3-fold at Rs 17,529 cr

NEW DELHI: Tata Motors on Friday reported over three-fold jump in consolidated net profit at Rs 17,528.59 crore in the fourth quarter ended March 31, 2024, riding with all its three auto businesses delivering a strong performance, specially the British arm Jaguar Land Rover.

The company had posted a consolidated net profit of Rs 5,496.04 crore in the same quarter of the previous fiscal, Tata Motors said in a regulatory filing.

Total consolidated revenue from operations stood at Rs 1,19,986.31 crore, as compared to Rs 1,05,932.35 crore in the year-ago period.

In Q4 FY24, Tata Motors said all three auto businesses delivered strong performance.

The company’s British arm Jaguar Land Rover had “another record-breaking quarter in Q4 FY24. Revenue for the quarter was 7.9 billion pounds, up 11 per cent versus Q4 FY23’’, Tata Motors said.

JLR’s Profit After Tax (PAT) in Q4 was 1.4 billion pounds as against a profit of 259 million pounds in the same quarter a year ago, it added.

The Board of Directors have recommended a final dividend of Rs 3 per ordinary share and Rs 3.10 per ‘A’ ordinary share and a special dividend of Rs 3 per ordinary share and Rs 3.10 per ‘A’ ordinary share subject to approval by the shareholders.

For the fiscal ended March 31, 2024, consolidated net profit was at Rs 31,806.75 crore as compared to Rs 2,689.87 crore in the previous fiscal, the company said.

In FY24, total consolidated revenue from operations stood at Rs 4,37,927.77 crore as compared to Rs 3,45,966.97 crore in FY23.

Tata Motors Group CFO, PB Balaji, said in FY24 the Tata Motors Group delivered its highest-ever revenues, profits, and free cash flows. ‘’The India business is now debt-free, and we are on track to become net automotive debt-free on a consolidated basis in FY25. The businesses are executing well on their distinct strategies and therefore, we are confident of sustaining this strong performance in the coming years,’’ he added.

JLR’s revenues for FY24 were 29 billion pounds, its highest-ever fullyear revenue and up 27 per cent compared to the prior year, while PAT for FY24 was 2.6 billion pounds.

“We have delivered a record financial performance for the company, generating free cash flow of 2.3 billion pound, enabling us to reduce net debt to 0.7 billion pound,’’ JLR CEO Adrian Mardell said.