Tata Motors bags order of 1,300 commercial vehicles from VRL Logistics

Tata Motors said on Thursday that it has bagged an order of 1,300 commercial vehicles from VRL Logistics Ltd, which provides trucks used for transportation of cargo, to expand the latter's commercial vehicle fleet portfolio in the country. 

The order comprises of vehicles from Tata Motors' Medium & Heavy Commercial Vehicle and Intermediate & Light Commercial Vehicle range, suited for logistics operations of the company, across India, Tata Motors said in a statement. 

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Commenting on the development, Rajesh Kaul, Vice President, Sales & Marketing, Commercial Vehicle Business Unit, Tata Motors, said, "We are delighted to secure the prestigious order of 1300 vehicles from VRL Logistics ltd. I'm confident that our vehicles will bring great value to their operations." 

Tata Motors is also eyeing big investments in the electric vehicle (EV) segment. The company is planning to invest Rs 15,000 crore in the EV segment in the next five years. 

The company posted a 74 per cent rise in its consolidated net profit to Rs 552 crore for the December quarter (Q3FY22) on the back of higher revenues. This was the ninth consecutive quarter of profit after tax (PAT) growth. 

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Consolidated revenue also went up by 42 per cent to Rs 11,015 crore, from Rs 7,756 crore in Q3 FY21 due to expanded operation in Odisha discoms, higher project execution by Tata Power Solar Systems Ltd (TPSSL), and strong performance of all other businesses, the company said in a statement in February. 

Tata Power is one of India's largest integrated power companies. Together with its subsidiaries and jointly controlled entities, it has an installed/managed capacity of 13,171 MW.