Tata Motors Reports 8.4% Rise in February Sales

1 Mar 2024 , 02:52 PM

Tata Motors reported an 8.4% increase in total wholesales, reaching 86,406 units in February, compared to 79,705 units in the same month last year. Total domestic sales for Tata Motors stood at 84,834 units, marking a growth of 9% from the previous year’s 78,006 units.

Passenger vehicle (PV) sales, including electric vehicles, in the domestic market rose by 19% to 51,321 units from 43,140 units in the year-ago month.

However, total commercial vehicle sales experienced a 4% decline, falling to 35,085 units from 36,565 units year-on-year. Domestic sales of MH&ICV in February, including trucks and buses, dropped to 16,227 units from 17,282 units in February 2023.

Overall sales for MH&ICV in domestic and international business totaled 16,663 units, compared to 17,928 units in February 2023.

Tata Motors’ stock has witnessed significant growth, rising more than 11% in the past month and over 39% in three months, with a remarkable jump of over 130% in the past year.

In Q3FY24, Tata Motors reported a consolidated net profit surge of 137.5%, reaching ₹7,025.11 Crore compared to ₹2,958 Crore in the year-ago period. Total revenue from operations in Q3FY24 increased by 25% to ₹110,577 Crore from ₹88,488.59 Crore year-on-year, led by a 27% rise in Jaguar Land Rover (JLR) sales.

On the operating front, Tata Motors’ EBITDA during the December quarter rose by 59% to ₹15,333 Crore from ₹9,644 Crore in the year-ago period. At the time of writing, Tata Motors shares were trading 2.83% higher at ₹977.75 apiece on the BSE.

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