Tata Motors Ltd's Q4FY19 consolidated net profit declines 49.0% yoy to Rs1,108.7cr : Misses Estimates

The company’s consolidated revenue stood at Rs86,422cr, down 3.9% yoy but up 12.4% qoq.

May 20, 2019 11:05 IST India Infoline Research Team

Tata Motors Ltd Q4FY19

Consolidated Results Q4FY19: (Rs. in cr)

Q4FY19 YoY (%)
Revenue 86,422 [3.9]
EBITDA 8,449.6 [14.7]
EBITDA Margin (%) 9.8 [123]
Net Profit (reported) 1,108.7 [49.0]
***EBITDA margin change is bps
Tata Motors Limited (TML) missed expectations yet again in Q4FY19 at the consolidated level. Consolidated revenue was down 3.9% yoy (up 12.4% qoq), broadly in-line with the consensus expectation. Revenue decline and higher raw material costs led to 14.7% yoy decline in consolidated EBITDA to Rs8,449.6cr, ~7% lower than estimates. Thus, EBITDA margin contracted by 123bps yoy to 9.8% against estimated 10.6%. Company reported consolidated PAT of Rs1,108.7cr, down 49% yoy; against estimate of Rs1,198cr.

Other Highlights
  • Standalone performance: Standalone revenue was down 3.2% yoy to Rs18,561.4cr. It reported PAT of Rs106.2cr for the quarter against a loss of Rs499.9cr in Q4FY18.
  • JLR reported revenue of GBP24.2bn (down 6.1% yoy) with an EBITDA of GBP1.9bn (up 8.2% yoy). However, it reported loss of GBP3.3bn. Sequentially, the EBIT margin improved 560bps.

Technical View:

Tata Motors Ltd ended at Rs. 190, up by 13.3 points or 7.53% from its previous closing of Rs. 176.70 on the BSE.
The scrip opened at Rs. 182 and touched a high and low of Rs. 191.95 and Rs. 179.35 respectively. A total of 3,23,07,375 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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