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Tata Motors Q4 Consolidated PAT Down 17% At Rs 4336 Crore

Tata Motors has attributed Q4 decline in consolidated profit after tax to translation impact from British Pound to Indian Rupee.

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Indian automotive manufacturer Tata Motors has registered 17 percent de-growth in its consolidated Profit After Tax (PAT) for the fourth quarter ended March 31, 2017 and stood at Rs 4336 crore, informed the company in an official statement. The decline has been attributed to translation impact from British Pound to Indian Rupee.

For the quarter ended March 31, 2017, Tata Motors reported consolidated revenues (net of excise) of Rs 77,272 crore as against Rs 79,549 crore for the corresponding quarter last year.

For the year ended March 31, 2017, the Consolidated revenue (net of excise) was Rs 269,850 crore when compared with Rs 273,111 crore for the last year. The consolidated PAT was Rs 7,557 crore, as against Rs 11,678 crore for the last year.

Tata Motors Standalone Financial Results

During the quarter, commercial vehicle segments of Tata Motors witnessed muted demand due to weak replacement demand, subdued freight demand from industrial segment, which took further hit post demonetisation, and lower than expected pre-buying ahead of the implementation of BS IV.

Passenger vehicles grew by 44.3 percent with car segment experiencing year-on-year growth of 42.8 percent and utility vehicles (including vans) of 51.7 percent, on the back of strong response to the Tiago and the launch of Tata Hexa and Tata Tigor.

Exports, however, de-grew by 8.7 percent.

The revenues (net of excise) of the standalone business (including joint operations) for the quarter ended March 31, 2017 stood at Rs 13,621 crore, as compared to Rs 12,840 crore for the corresponding quarter last year. Its PAT grew by Rs 431 crore.

For the complete financial year 2017, Tata Motors' PAT grew by Rs 2,418 crore.

The company said, “it has been a challenging and highly volatile year, which followed a period of low demand and inconsistent recovery in the prior years in the automotive sector in India. In addition, the company also under performed on many fronts, amplifying the impact of the external environment. On the way forward, we have detailed actions under focused implementation, and expect to significantly enhance the overall business performance in the coming periods.”

Considering the losses in the standalone business for the year, no dividend is permitted to be paid to the Members for fiscal 2017.

Jaguar Land Rover Automotive (JLR)

This British luxury automaker has witnessed 13 percent growth in its retail sales for the quarter, including the China joint venture, and stood at 179,509 units. This growth has been primarily attributed to higher volumes in China, North America, UK and Europe led by strong sales of F-PACE, Range Rover and Discovery Sport.

Its revenues for the quarter were up 10.1 percent, and PAT experienced growth of 18 percent. For the year ended March 31, 2017, JLR's revenues increased 9.2 percent, while PAT went down by 3 percent.

The company said added in the statement that it "is pleased to end the fiscal year on a strong note in spite of the geopolitical and volatile economic environment. JLR believes that it has strong and exciting product actions and plans to continue to drive profitable and sustainable growth."

Tata Daewoo Commercial Vehicles

This wholly owned subsidiary of Tata Motors and a Commercial Vehicles manufacturer has registered net revenues of around Rs 1,496 crore and net profit of Rs 87 crore in the quarter ended March 31, 2017. Net revenue and net profit for the year ended March 31, 2017 stood at approximately Rs 5,986 crores and Rs 290 crore, respectively.