Tata Motors Q1 net profit drops 57% to Rs 2,236 cr


Tata Motors April-June quarter consolidated net profit down 57 per cent to Rs.2,236 crore compared with Rs.5,231 crore throughout the same period previous year, owing to an unfavorable foreign exchange impact on its Jaguar Land Rover (JLR) business. The net profit comprise exceptional recoveries (insurance claim) of Rs.478 crore on account of previous year’s Tianjin incident in China which had resulted in injure of 5800 JLR vehicles in the blast.

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According to a statement from Tata Motors, superior volumes in both standalone as well as JLR business more than offset by the adverse foreign exchange impact of Rs.2,296 crore and adverse commodity derivatives impact of Rs.167 crore in the operating profit margin largely in the JLR business.

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