Tata Motors Q4FY23 Result: Earned profit of Rs 5,407 crore in March quarter

Tata Motors announced its Q4FY23 ie fourth quarter (January-March) results on Friday (May 12). The company's consolidated net profit stood at Rs 5,407.79 crore during the quarter. The company had a net loss of Rs 1,032.84 crore in the year-ago quarter (Q4FY22). This means now Tata Motors has come in profit.
The company's revenue from operations in the fourth quarter stood at Rs 1,05,932.35 crore. This is 35.05% higher than the revenue of Rs 78,439.06 crore in the same quarter a year ago.
The board of directors of Tata Motors has recommended a final dividend of Rs 2 per ordinary share. DVR shareholders will get a dividend of Rs 2.1 per share. After this proposal is approved in the AGM, the company will pay this dividend to the shareholders.
PB Balaji, Chief Financial Officer, Tata Motors Group said that the end of FY23 was good for us. All automotive verticals performed well. The company has achieved such a feat for the first time. Different strategies made for each business are yielding good results. Due to this, a great improvement has been seen in the overall result.
The company has said in its outlook for the current financial year that despite the uncertain situation ahead, it sees a lot of hope in terms of demand. The inflationary environment looks normal going forward.
The company said in the release, 'We aim to further improve the performance and deliver better results in FY24. This momentum is expected to continue going forward. The JLR supply chain is improving. This has happened due to the effect of RDE in India."
Jaguar and Land Rover had revenues of £1.7 billion in the March quarter. This is 49% higher on a year-on-year basis. This has happened due to an improvement in chip supply. Wholesale in the fourth quarter stood at 94,649 units. This is 24% higher on a year-on-year basis. EBIT margin stood at 6.5% in the March quarter. Its profit before tax was 368 million pounds. Free cash flow in the fourth quarter was £815 million.
Tata Motors has said that its order book stood at 2,00,000 units. Range Rover, Range Rover Sport, and Defender accounted for 76% of the order book. Adrian Mardell, interim chief executive officer of Jaguar Land Rover, said JLR's fourth quarter results were strong. We increased production and achieved revenue, profit, and free cash flow. Wholesale growth was driven by an improvement in chip supply. We are mindful of the challenges ahead in this financial year.