Sunday, July 21, 2024

Tata Motors shares up by nearly 3% on JLR Q4 sales data, wholesales up 24% YoY

Shares of Tata Motors climbed 2.61 per cent in Thursday’s trade after the automaker reported sales figure for Jaguar Land Rover in quarter ended March 2023.

The company said that wholesale volumes for the March quarter stood at 94,649 units (excluding the Chery Jaguar Land Rover China joint venture), up 24 per cent compared to corresponding quarter last fiscal and 19 percent compared to December quarter, said Tata Motors in its regulatory filing.

The wholesale volumes were higher in all markets led by Overseas which contributed 62%, followed by UK at 24%. While Europe. China and North America reported 22%, 17% and 2% respectively.

The retail sales for the March quarter rose by 30 per cent to 102,889 units (including the Chery Jaguar Land Rover China joint venture) on a yearly basis. It was up 21 per cent sequentially.

For the fiscal year ended 31 March 2023, wholesales (excluding China joint venture) stood at 321,362 units, up 9 per cent, while retails sales stood at 354,662 units, declined by 6 per cent for JLR.

Range Rover and Range Rover Sport production volumes continued to increase with 32,950 units wholesaled in the quarter, up from 28,000 in December quarter.

“Defender wholesale volumes increased to 27,513 units as JLR continued to operate a third shift at the Nitra plant, up from 23,816 in Q3,” said Tata Motors in the filing.

The order book remained strong with about 200,000 client orders at quarter end. Range Rover, Range Rover Sport and Defender demand represented 76 per cent of the order book.

“JLR expects to report results for the fourth quarter and full year ended 31 March 2023 in May 2023. On a preliminary basis, free cash flow is estimated to be over £800 million positive in the fourth quarter and over £500 million positive for the full year, based on a preliminary estimated cash balance of over £3.7 billion and net debt of around £3.0 billion,” said the filing.

On Thursday, the company’s scrip ended 2.61 per cent at 437.55 on BSE.

Catch all the Corporate news and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.


#Tata #Motors #shares #JLR #sales #data #wholesales #YoY

Related Articles


Please enter your comment!
Please enter your name here

Latest Articles