Automobile News

Tata Motors’ Q3 standalone net profit at Rs 183.65 crore

Tata Motors’ Q3 standalone net profit at Rs 183.65 crore

Mumbai: Automobile major Tata Motors on Monday reported a standalone net profit of Rs 183.65 crore for the quarter ended December 31, 2017.

According to a regulatory filing, the company reported that the net profit from “continuing operations” during the quarter under review increased to Rs 183.65 crore from a net loss of Rs 1,045.94 crore reported for the corresponding period in 2016-17.

Commenting on the quarterly results, Guenter Butschek, Tata Motors CEO & MD, said: “The turnaround strategy is delivering results for us as is evident in share gain in an intensely competitive market and improved profitability enabled by a slew of new product launches and customer centric initiatives.”

“The regulatory landscape on emission norms including BSVI, EVs and alternative fuel sources are significant challenges for the industry and Tata Motors is ready to play its part, while we continue on our journey to drive competitive, profitable growth.”

On a consolidated level, the company’s net profit during the quarter under review rose to Rs 1,214.60 crore from Rs 111.57 crore reported for the corresponding period in 2016-17.

IANS