The result was announced during trading hours today, 9 August 2012. Soon after the result announcement, shares of Tata Motors tumbled 3.91% to hit the day's low of Rs 232. However, bargain hunting was triggered at lower level and the stock pared intraday losses.
Meanwhile, the BSE Sensex was down 44 points, or 0.25%, to 17,556.56.
On BSE, 36.73 lakh shares were traded in the counter as against an average daily volume of 17.74 lakh shares in the past one quarter.
The stock hit a high of Rs 246.10 and a low of Rs 232 so far during the day. The stock had hit a record high of Rs 320.60 on 20 April 2012. The stock had hit a 52-week low of Rs 137.65 on 13 September 2011.
The stock had underperformed the market over the past one month until 8 August 2012, rising 0.37% compared with the Sensex's 0.45% rise. The scrip had, however, underperformed the market in past one quarter, falling 18.53% as against 6.37% rise in the Sensex.
India's largest commercial vehicles maker by sales has an equity capital of Rs 637.93 crore. Face value per share is Rs 2.
Tata Motors said revenues grew on the back of strong growth in volumes of new products and favorable market mix at Jaguar Land Rover (JLR).
The company said the consolidated profit for the quarter ended 30 June 2012 was impacted by exceptional items of Rs 441 crore (loss of Rs 57 crore in corresponding period last year) on account of exchange loss, including on revaluation of foreign exchange borrowings, deposits and loans arising from depreciation of Indan rupee.
Tata Motors' total sales (including exports) of commercial and passenger vehicles declined 3.6% to 1,90,483 units in Q1 June 2012 over Q1 June 2011.
In the domestic market, the company's commercial vehicles sales rose 1.3% to 1,14,710 units in Q1 June 2012 over Q1 June 2011. The company said that the growth was driven by small commercial vehicles and was supported by improved production through its facilities in Pantnagar and Dharwad. The company's market share in commercial vehicles was 56.2% for the quarter ended June 2012.
In the domestic market, the company's passenger vehicles, including Fiat and Jaguar and Land Rover vehicles distributed in India, fell 9.9% to 62,619 units in Q1 June 2012 over Q1 June 2011. The company said it continues focus on marketing initiatives and network actions and the sales and services process. The market share in passenger vehicles for quarter ended June 2012 stood at 9.8%.
Jaguar Land Rover (JLR) sales rose 34.4% to 83,452 units in Q1 June 2012 over Q1 June 2011. Of this, the Jaguar volumes for the period stood at 11,774 units and Land Rover volumes stood at 71,678 units. Growth in volumes was driven by sales of the new Range Rover Evoque and strong demand from China, which grew 91% year-on-year. Sales from the China region comprised 22.2% of total volumes for the quarter ended June 2012, as against 15.7% for the corresponding period last year.
JLR revenues rose 34.6% to GBP 3638 million in the quarter ended June 2012 over the quarter ended June 2011. Operating margins for the quarter ended June 2012 stood at 14.5% and an operating profit of GBP 527 million in the quarter, a growth of 45.6% over the quarter ended June 2011. Continued strong revenue and operating profit performance were supported by demand for new products, improved market mix, and favourable exchange rate environment. The profit after tax grew 7.27% to GBP 236 million in the quarter ended June 2012 over the quarter ended June 2011.
Tata Daewoo Commercial Vehicles registered net revenues of KEW 217 billion and recorded a net profit of KRW 3 billion in the quarter ended June 2012.
Tata Motors Finance, the company's captive financing subsidiary, registered net revenue from operation of Rs 623 crore and reported a profit after tax of Rs 73 crore in the quarter ended June 2012.
Tata Motors is a market leader in commercial vehicles in India and one of the leading passenger vehicles makers. Tata Motors, through subsidiaries and associate companies, has operations in the UK, South Korea, Thailand and Spain. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia and South America.