Tata Motors Q2 net profit rises 70.71% to Rs 3,541.86 crore

Auto firm Tata Motors on Friday reported a 70.71 per cent increase in its consolidated net profit at Rs 3,541.86 crore for the second quarter ended September 30.

The company had posted a consolidated net profit of Rs 2,074.73 crore in the same period last fiscal, Tata Motors said in a statement.

Net sales for the period under review stood at Rs 55,701.22 crore as against Rs 42,818.90 crore in July- September period of 2012-13, up 30.08 per cent.

On a standalone basis, the company posted a net loss of Rs 803.53 crore as compared to a net profit of Rs 867.11 crore in the same period of previous fiscal.

The company's net sales also declined to Rs 8,761.10 crore as against Rs 12,396.46 crore during the same period of previous financial year.

In terms of unit volumes, the company said its sales stood at 1,50,930 units on a standalone basis as against 2,23,665 units in the year-ago quarter, down 32.51 per cent.

Shares of Tata Motors closed at Rs 385 apiece on the BSE, up 1.29 per cent from the previous close.