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Tata Motors is expected to record a 93% decline in consolidated net income for the June quarter due to weak growth in Jaguar Land Rover subsidiary sales and lower margins.
According to a Reuters poll of 14 badysts, the Mumbai-based manufacturer of hatchbacks, trucks and luxury cars could report a consolidated net profit of Rs 224 crore for the quarter under review, versus Rs 3,199.93 crore reported in the same quarter last year.
Tata Motors, which is India's largest automobile company, gets 90% of its net profit from the two iconic British brands. Jaguar Land Rover retail sales (client-dealer) increased 5.9% year-over-year during the quarter to 145,510.
The company is expected to announce its results on Tuesday.
"Consolidated EBITDA should be flattering However, wholesale sales at the UK subsidiary (dealer companies) were however marked by a contraction in margins and a higher depreciation of JLR, the report said. IIFL Institutional Equities in a pre-profit report, a 5 percent drop to 131,560 units, compared with 138,476 units sold in the last quarter of the same year.
Land Rover retail sales rose to 101,386 units , while Jaguar's rose to 44,124 units, with sales of both brands in Europe down 7%, while sales growth in China, their largest market, slowed to 2.5%.
The consolidated business figure of Tata Motors is expected to reach 70,320 crores for the quarter, 18 percent higher than the reported Rs 59,818 crore for the corresponding quarter a year ago.
Autonomously, the company of should have a solid performance, which has been the case in recent quarters. Its net profit is estimated at Rs 371.8 crore for the quarter under review, against a loss of crore of Rs 467 reported for the same quarter of last year.
"We expect a 91% increase in own-source revenue year-over-year due to 61% Year-over-year volume growth and higher SARs are attributable to a richer product mix (higher MHCV combination and higher higher-priced launch volumes in the PV segment), "Kotak Institutional Equities said in a report, and we expect a slightly weaker QoQ-based gross margin, but take advantage of the cost-cutting efforts of the company, "said the brokerage firm (19659002), and exports), sales of pbadenger cars and commercial vehicles rose 61 percent year-on-year to 176,123 units in the quarter. [19659002] Tata Motors, which is the largest third largest manufacturer of pbadenger cars in India after Maruti Suzuki and Hyundai, saw its Motor vehicle sales reach 59,138 units, 48% more than the quarter last year correspondent.
The company is also the largest national manufacturer of commercial vehicles (CVs), whose sales grew 68% over the previous year.
In addition to a strong surge in the sales network, which allowed to increase volumes, the company benefited from a recovery in demand from rural areas, which had been moderate l & rsquo; Last year. The government's major infrastructure boom and the implementation of the GST have resulted in a steady increase in CV demand.
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