Tata Motors- one of country’s automobile giants and a major global player, has reported a staggering decrease of 56% in the profit after tax in the last quarter of the financial year ended in March 2015. The consolidated profit after tax for the quarter stood at Rs. 1717 crores compared to Rs. 3918 crores in the corresponding period last year as stated by the manufacturer. The company’s analysis has pointed out that the main reasons for this situation lie in some accounting practices such as increased depreciation, amortization and un-matured hedges.
However, the net revenue is up by 12.9% compared to previous year. Net revenue of the FY 2014-15 was Rs.2,62,796 crores compared to Rs.2,32,834 crores in the last financial year.
A quick look at the standalone results of Tata Motors reveals that the manufacturer has performed well in the heavy commercial segment achieving a sales growth of 26.4% in the fourth quarter of FY 2014-15. However, the results of the Light Commercial Vehicle segment are not that encouraging with the sales remaining almost flat.
In the passenger segment, newly introduced Zest and Bolt are receiving good response from the customers thereby giving a strong boost to the sales figure.
More information about results could be obtained from: