Auto giant Tata Motors beats estimates in consolidated net profit Q4 FY23 reported a net loss of Rs 5,407.79 crore 1,032.84 crore in the same quarter a year ago. Sequentially, Q4FY23 PAT saw a growth of around 83%. The company’s top-line front is also strong with over 35% growth in revenue.
Fourth quarter was one of the strongest quarters for TML Group with consolidated revenue 105.9K Cr on EBITDA 14.1K Cr on PBT (bei) 5.0K Cr, and a decrease in net auto loans 13.8 thousand crores
Also, Tata Motors said, “Volumes continued to improve on the back of strong India demand and better supplies at JLR. Pricing actions and a richer mix led to improved ASPs and higher revenue growth. The lower the inflation, the better.” Strong improvement in margin and profitability as a result of mix, pricing actions and favorable operating leverage.”
Despite near-term uncertainties, Tata Motors remains optimistic about demand conditions and expects a softening of the inflationary environment in the near term.
Company declared final dividend 2 per ordinary share 2 each (@100%) and 2.10 per ‘A’ Ordinary Share 2 each (@105%) for the financial year ending March 31, 2023. The dividend declared at the AGM will be paid to the eligible shareholders with effect from August 14, 2023.
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