Tata Motors gains post September quarter results

Tata Motors is trading higher by 2% at Rs 535 on National Stock Exchange (NSE) in otherwise subdued market after reporting a 60 bps improvement in consolidated operating profit margins to 15.8% in September quarter.

While Jaguar Land Rover (JLR) reported a healthy EBITDA margin expansion of 190 basis points to a whopping 19.4%.

Continued strong revenue and operating performance were driven by wholesale volume increase, richer product mix supported by the ongoing success of Range Rover Sport, Range Rover and Jaguar F-TYPE, robust market mix with strong sales in emerging markets, Tata Motors said in a statement.

To keep the momentum going, the company said it would start manufacturing at the China joint venture plant before the end of the financial year.

Analyst at Angel Broking said we would await management commentary on new product launches at JLR and margin outlook for the domestic business.

The stock opened at Rs 520 and touched a high of Rs 540 on NSE. A combined 1.36 million shares changed hands on the counter till 0945 hours on the NSE and the BSE.

Tata Motors