For the quarter ended March 31, 2016, Tata Motors reported consolidated revenues net of excise of Rs. 80,684 crores as against Rs. 67,778 crores for the corresponding quarter last year.
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Consolidated Profit before tax (before exceptional item) for the quarter was Rs. 5,957 crores, against Rs. 2,932 crores for the corresponding quarter last year.
Stronger operating performance in both standalone as well as Jaguar Land Rover business and lower net finance expenses partly offset by higher depreciation and amortization expenses, adverse revaluation of EUR payables and one time reserves and charges of Rs. 1,580 crores (£166 million) for the industry-wide recall in the United States of potentially faulty airbags supplied by Takata, doubtful debts and previously capitalized investment in the Jaguar Land Rover business.
Further, exceptional items for the quarter includes further insurance and other recoveries of Rs. 555 crores on account of the vehicles damaged at Tianjin Port explosion in Jaguar Land Rover business.
Post the exceptional items, the Consolidated Profit before tax for the quarter was Rs. 6,561 crores, against Rs. 2,771 crores for the corresponding quarter last year.
Consolidated Profit after tax (post minority interest and profit / loss in respect of associate companies) for the quarter was Rs. 5,177 crores, against the Consolidated Profit after tax (post minority interest and profit / loss in respect of associate companies) of Rs. 1,717 crores for the corresponding quarter last year.
For the year ended March 31, 2016, the Consolidated revenue (net of excise) was Rs. 2,75,561 crores against Rs. 2,63,159 crores for the corresponding period last year. The Consolidated Profit before tax (before exceptional item) for the year ended March 31, 2016 was Rs. 16,100 crores against Rs. 21,887 crores for the corresponding period last year.
Post the exceptional items, the Consolidated Profit before and after tax (post minority interest and profit / loss in respect of associate companies) for the year ended March 31, 2016 was Rs. 13,981 crores and Rs. 11,024 crores, as against Rs. 21,703 crores and Rs. 13,986 crores for the corresponding period last year. ■