Nano gives Tata Motors a net profit of 57.5 percent

Auto major Tata Motors Monday reported 57.5 percent surge in its net profit at Rs.513.7 crore (Rs.107 million) for the quarter ended June 30, as compared to Rs.326.11 crore in the like period last fiscal.

Total income, however, decreased 7 percent to Rs.6,723.9 crore from Rs.7,244 crore, the company said in a regulatory statement.

“Improvement in liquidity, increased reach across the country and introduction of new products and variants improved the company’s sales, except in the case of the heavy truck segment, it added.

The company reported a marginal decrease of 1.4 percent in domestic sales at 122,120 vehicles.

“The exports at 5,220 vehicles continued to be severely impacted (negative 43 percent) in the wake of continuing tumultous global environment resulting in total sales volume at 127,340 vehicles, a decline of 4.3 percent, the company added.

The auto giant, which owns luxury car brands Jaguar and Land Rover and recently launched the world’s most inexpensive car Nano, said its passenger vehicle sales declined 10 percent in the domestic market to 45,846 units.