Due to the excellent performance of all three of its automotive divisions, particularly the British branch Jaguar Land Rover, Tata Motors reported a more than three-fold increase in consolidated net profit of Rs 17,528.59 crore for the fourth quarter that ended on March 31, 2024.
Tata Motors reported in a regulatory filing that during the same quarter of the previous fiscal year, it generated a consolidated net profit of Rs 5,496.04 crore. Comparing the same time last year, the total consolidated income from operations was Rs 1,19,986.31 crore as opposed to Rs 1,05,932.35 crore.
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All three of the vehicle companies had great Q4 FY24 performance, according to Tata Motors. According to Tata Motors, Jaguar Land Rover, its British division, "recorded another record-breaking quarter in Q4FY24." The quarter's revenue was £7.9 billion, an increase of 11% over Q4 of FY23.
Compared to £259 million in the same period last year, JLR's profit after tax (PAT) in Q4 was £1.4 billion, according to the report. The Board of Directors has recommended, subject to shareholder agreement, a special dividend of Rs 3 per ordinary share and Rs 3.10 per "A" ordinary share, as well as a final dividend of Rs 3 per ordinary share and Rs 3.10 per "A" ordinary share.
According to the corporation, its consolidated net profit for the fiscal year that ended on March 31, 2024, was Rs 31,806.75 crore, up from Rs 2,689.87 crore the year before. The overall consolidated income from operations in FY24 was Rs 4,37,927.77 crore, down from Rs 3,45,966.97 crore in FY23.
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The Tata Motors Group achieved its highest-ever sales, profit, and free cash flow in FY2024, according to PB Balaji, Chief Financial Officer.
We now have no debt in our India company, and we plan to achieve net debt-free status for the automotive sector in FY25 on a consolidated basis. We are optimistic that the companies will continue to maintain this high performance in the upcoming years as they are effectively implementing their unique strategies," he continued.
In FY24, JLR had its highest-ever full-year sales of £29 billion, up 27% from the previous year. FY24 PAT came in at £2.6 billion.
He said that the sustained emphasis on operational improvement combined with the persistent demand for JLR's modern luxury cars, particularly the Range Rover and Defender brands, around the globe, served as the cornerstone of this success. In Q4 FY24, Tata Commercial Vehicles' revenue was Rs 21,600 crore, down from Rs 78,800 crore in FY24.
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According to the corporation, higher pre-buy in Q4 FY23 as a result of the BS6 Phase II changeover resulted in lower domestic wholesale commercial vehicle (CV) volumes in Q4 FY24—1,04,600 units—a 7 percent year-over-year decrease.
The announcement of general elections, the five state elections, and the high base effect of FY23 all had an impact on the Indian CV industry's moderate 2 percent growth in volumes during FY24, according to Girish Wagh, Executive Director of Tata Motors Ltd.
The business reached the milestone of 1.5 lakh overall EV manufacturing throughout the year, he continued, selling 73,800 EVs, a 48 percent increase over FY23.
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