Tata Motors Ltd., reported a flat stand-alone net profit for the fourth-quarter on growth in volumes and reduction in marketing costs. However, on a consolidated basis, the company posted more than two-fold increase in its net profit for the quarter.
Stand-Alone Results
The Mumbai-based company posted fourth-quarter stand-alone net profit of Rs.565.26 crore or Re.1.70 per share, flat from last year's Rs.573.74 crore or Re.1.73 per share for the quarter ended March 31 last year.
Its quarterly net sales stood at Rs.16,297.13 crore, higher by 14 percent than the Rs.14,271.93 crore in Q4FY11, while other operating income was Rs.93.59 crore, compared with Rs.53.59 crore in the year-ago quarter.
For the fiscal year, its stand-alone net profit amounted to Rs.1,242.23 crore, compared with Rs.1,811.82 crore in 2011, reflecting a 31 percent decline. Net sales and other operating income rose by 15 percent to Rs.54,306.56 crore from the Rs.47,088.44 crore a year-ago.
Net profit for the fiscal were impacted by Rs.585 crore, compared to Rs.147 crore in FY11 on account of exchange loss (net) including on revaluation of foreign currency borrowing,s deposits and loans arising from the depreciation of Indian Rupee and provision made for certain investments in subsidiary.
In the domestic market, the company's commercial vehicles sales during the year was increased by 16 percent to 530,204 units. Passenger vehicles, including Fiat and Jaguar and Land Rover distributed in India, grew by four percent in the domestic market to 333,044 units. Exports during the year surged by nine percent to 63,105 units.
Consolidated Results
Tata Motors fourth-quarter consolidated net profit, after minority interest and share of profit of associates, rose more than two-fold to Rs.6,234.00 crore from the Rs.2,637.52 crore in the year-ago quarter. Net sales and other operating income totaled Rs.50,907.90 crore, compared with Rs.35,287.06 crore in Q4FY11, an increase of 44 percent, driven by strong growth in volumes across products and markets.
For the fiscal year, its consolidated net profit stood at Rs.13,516.50 crore, up by 46 percent from the Rs.9,273.62 crore last year. Net sales and other operating income totaled Rs.165,654.49 crore, higher by 36 percent than the Rs.122,127.92 crore a year-ago.
The company's board recommended a dividend of 200 percent or Rs.4.00 per equity share of Rs.2 each for the fiscal year 2012. Tax dividend will be borne by the company, it said.
The board also approved appointment of Cyrus P. Mistry, as an Additional and Non-Executive Director of the company with immediate effect.
At the BSE, Tata Motors closed Tuesday's trading at Rs.275.90, down Rs.0.25 percent from the previous close.
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by RTT Staff Writer
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