Tata Motors reported an 8.4% rise in its total wholesales to 86,406 units in February as compared with 79,705 units in the same month last year.
The automobile major’s total domestic sales stood at 84,834 units last month as against 78,006 units last month, a growth of 9%.
Tata Motors’ passenger vehicles (PV) sales, including electric vehicles, in the domestic market, were at 51,321 units as compared to 43,140 units in the year-ago month, up 19%, the company said in a regulatory filing.
Total commercial vehicle sales fell 4% last month to 35,085 units from 36,565 units, YoY.
Also Read: Tata Motors, M&M to Bajaj Auto: Why are auto stocks rising after India’s stellar GDP print?
Domestic sale of MH&ICV in February, including trucks and buses, fell to 16,227 units from 17,282 units in February 2023.
Total sales for MH&ICV for domestic and international business in February, including trucks and buses, stood at 16,663 units compared to 17,928 units in February 2023, the company added.
Tata Motors share price has seen a decent rally recently on the back of improving financials and rising sales. The stock has gained more than 11% in the past one month and over 39% in three months. Tata Motors shares have jumped over 130 in the past one year.
Also Read: Tata Motors Q3 Results: Net profit surges 137% to ₹7,025 crore, revenue up 25% YoY; 5 key highlights
In the quarter ended December 2023, Tata Motors, India’s most valuable carmaker, beat street estimates as it reported a more than two-fold increase in net profit driven by strong sales in its British luxury car unit, Jaguar Land Rover (JLR).
Tata Motors’ consolidated net profit surged 137.5% to ₹7,025.11 crore in Q3FY24, compared to ₹2,958 crore in the year-ago period.
Its total revenue from operations in the third quarter of FY24 rose 25% to ₹110,577 crore from ₹88,488.59 crore, YoY, led by JLR sales which rose 27% in the period.
On the operating front, the auto major’s earnings before interest, taxes, depreciation, and amortization (EBITDA) during the December quarter rose 59% to ₹15,333 crore from ₹9,644 crore in the year-ago period.
At 2:20 pm, Tata Motors shares were trading 2.80% higher at ₹977.45 apiece on the BSE.
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Published: 01 Mar 2024, 02:21 PM IST