Tata Motors’s Stock Jumps Over 8% After Earnings Declaration

Shares of Tata Motors on Friday jumped over 8 per cent in morning trade after the firm reported a consolidated net profit of Rs 3,043 crore in the December quarter.

The stock climbed 8.16 per cent to Rs 453.20 on the BSE.

At the NSE, it zoomed 8.19 per cent to Rs 453.40.

Tata Motors on Wednesday reported a consolidated net profit of Rs 3,043 crore in the December quarter, its first profit in two years, on account of robust sales.

The Mumbai-based auto major had reported a net loss of Rs 1,451 crore in the October-December quarter of the previous fiscal.

Stock markets were closed on Thursday on account of Republic Day.

Total income increased to Rs 88,489 crore in the period under review from Rs 72,229 crore in the year-ago period, Tata Motors said in a regulatory filing.

On a standalone basis, Tata Motors reported a net profit of Rs 506 crore in the third quarter, a jump of over two-fold, from Rs 176 crore in the October-December period of 2021-22.

The company said it remains cautiously optimistic on the demand situation despite global uncertainties.

“We will remain vigilant on demand and our continued focus on profitable growth, improving semiconductor supplies and stable commodity prices will aid revenue growth, margin improvement and positive cash delivery in Q4 FY23,” it added.

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