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Tata Motors' net profit down 19 percent in 2010-11

Bapun Raz

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Mumbai, May 26 : Automobile major Tata Motors Thursday reported a decrease of over 19 percent in its stand alone net profit for last fiscal year at Rs.1,811.82 crore due to reduction in operating margins caused by increasing input prices.





"Cost pressure, including commodity price increase, resulted in a reduction in the operating margins to 9.9 percent. The PAT (profit after tax) for the year is Rs.1,812 crore as compared to Rs.2,240 crore in the previous year," the company said in a statement.

The total income increased to Rs.48,223.72 crore for the year ended March 31, 2011, from Rs.37,446.50 crore for the year ended March 31, 2010.

The company's domestic vehicle sales in 2010-11 grew by 25.2 percent at 836,629 units including 458,828 units of commercial vehicle and 319,712 units of passenger vehicles, which consists of Tata Motors as well as Fiat, Jaguar and Land Rover brands.

The company said its entry level car Tata Nano's sales crossed the 100,000 mark during FY 2010-11.

The company also reported a three-folds increase in its consolidated net profit which grew by 261 percent at Rs.9,273.62 crore. The consolidated results also include the company's international cars and truck subsidiaries.

In the last fiscal year, the company's consolidated net profit stood at Rs.2,571.06 crore.

Meanwhile, the total consolidated income rose by 31 percent at Rs.123,222.91 crore from Rs.94,312.37 crore in 2009-10.

The Tata Motors' global wholesale volumes for FY 2010-11 grew by 24 percent, at 1,080,994 units.

The sales also includes 568,263 units of passenger vehicles, followed by 512,731 units of commercial vehicles.

Company said it plans to give a dividend of Rs.20 per ordinary share for the FY 2010-11. This plan is subject to shareholders approval, added the statement.


--IANS
 
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