Tata Motors on Friday topped Street estimates to report a consolidated profit of Rs 5,407.79 crore in the fourth quarter of 2022-23 against a loss of Rs 1,032.84 crore in the same period of the previous year, driven by a strong performance from Jaguar Land Rover (JLR).

Analysts had expected the company to report profit between Rs 3,300 crore and Rs 4,600 crore in the quarter.

The better-than-expected numbers came as revenues rose over 35 per cent to Rs 105,932 crore from Rs 78,439 crore in the year-ago period. JLR posted a 49 per cent jump in its topline which stood at £7.1 billion, an increase of 49 per cent over £4.7 billion a year ago. Its EBITDA grew 200 basis points to 14.6 per cent, while free cash flows stood at £815 million.

“JLR delivered a strong set of results for the fourth quarter. We increased production and delivered revenue, profit, free cash flow and wholesales growth as chip supply continued to improve,’’ Adrian Mardell, JLR’s interim CEO said.

Meanwhile, standalone net profit of the company shot up to Rs 2,696 crore from Rs 413 crore in the year ago period.Revenues stood at Rs 20,142 crore against Rs 17,338 crore in the same quarter of the previous fiscal, an increase of 16 per cent. At the board meeting on Friday, the directors recommended a dividend of Rs 2 per share.

The company has lined up a capex of Rs 38,000 crore for JLR as well as for domestic businesses in the current fiscal. The total capex stood at Rs 30,000 crore in FY22.

Industry sales

Domestic passenger vehicle despatches witnessed a 13 per cent year-on-year rise to 3,31,278 units last month compared with 2,93,303 units in April 2022 as demand remained robust across segments, industry body SIAM said.

Market leader Maruti Suzuki India dispatched 1,37,320 units to dealers last month against 1,21,995 units in April last year. Hyundai Motor India, on the other hand, sold 49,701 units in April compared with 44,001 units in the year-ago period.

With inputs from Delhi Bureau