Tata Motors Zooms 7% After Smashing Q3 Earnings

5 Feb 2024 , 02:39 PM

Tata Motors witnessed a remarkable surge of 7% in early trade on February 5, following the release of robust Q3 financial results that surpassed Street estimates. The stock, which has seen an impressive 99% acceleration in the last year, was trading at ₹942 at 9:30 am.

In a regulatory filing on February 2, after market hours, Tata Motors disclosed a substantial 137.5% year-on-year growth in consolidated profit, reaching ₹7,025 Crore for the quarter ending December 2023. The revenue from operations during the same period experienced a noteworthy 25% YoY increase, reaching ₹1,10,577 Crore. 

Additionally, the EBITDA for the quarter demonstrated a remarkable 59% growth, amounting to ₹15,333.3 Crore. The margin for the reporting period expanded by 300 basis points, reaching 13.9%.