Tata Motors Q1 Results Live: Automobile major Tata Motors announced its April-June quarter results for fiscal 2023-24 (Q1FY24) on July 25, reporting a consolidated net profit of ₹3,202 crore. The company's revenue from operations surged 42 per cent to ₹102,236.08 crore in the June quarter - surpassing the ₹1 lakh crore-mark in line with Street estimates. The net auto debt reduced by ₹417,000 crore on margin improvement driven by Jaguar Land Rover and commercial vehicles segments. Share price of Tata Motors had hit 52-week high ahead of Q1 results today.
Tata Motors Q1 Results Live: Shares of Tata Motors in focus tomorrow after Q1 results
After reporting its Q1FY24 results on July 25, shares of Tata Motors will be in focus in tomorrow's trading session. Ahead of Q1FY24 earnings announcement today, shares of Tata Motors settled 1.62 per cent higher at ₹639.45 apiece, after hitting a 52-week high of ₹642.50 apiece on the BSE.
Tata Motors Q1 Results Live: CV segment outlook
Tata Motors expects the segment demand to sequentially improve in FY24. The promising monsoon and continuing infrastructure thrust by the government auger well for the CV industry, even as it faces the headwinds of high interest rates, fuel prices and inflation
‘’We will continue to drive our demand-pull strategy and drive customer preference through innovation, service quality and thematic brand activation. In the coming quarters, we aim to step up Vahan market shares and revenue growth through innovation, service quality and thematic brand activation and deliver double digit EBITDA in FY24 by improving realisations and cost savings,'' said the auto major.
Tata Motors Q1 Results Live: Domestic CV volumes down on subdued economic conditions
Apart from seasonality, Q1 FY24 for the commercial vehicles segment was impacted by the transition to BS 6 Phase 2 emission norms. Domestic CV volumes were down 14.1 per cent to 824,000 units, while exports were at 36,000 units, down 32 per cent year-on-year because of subdued economic conditions in overseas markets as well.
The segment's EBIT margins grew 370 bps to 6.5 per cent while profit before tax stood at of ₹0.9 K crore led by improved pricing, superior mix, and stable commodity costs, said Tata Motors in its statement.
Tata Motors Q1 Results Live: CV segment financials
Tata Motor's CV segment reported a revenue growth of 4.4 per cent year-on-year to ₹17,000 crore, with the operating margin expanding by 390 bps to 9.4 per cent. The rise in revenue was on the back of improved mix and better market operating price.
Tata Motors Q1 Results Live: PV segment outlook
Going forward, Tata Motors expects the demand to remain steady with the onset of the festive season whilst the electrification trend is set to strengthen further. ‘’. We will continue to leverage our aspirational portfolio and alternate powertrains to maintain market leadership and drive EV penetration further,'' said Tata Motors in its statement.
Tata Motors Q1 Results Live: PV segment figures
Tata Motor's passenger vehicle (PV) segment reported an 11 per cent growth in revenue, while operating margin declined 80 bps to 5.3 per cent due to higher mix of electric vehicles (EVs) and higher fixed expenses. EBIT margins improved by 10 bps year-on-year to one per cent and PBT improved by ₹172 crore to ₹186 crores driven by impact of operating leverage.
Tata Motors Q1 Results Live: JLR Management Quote
‘’We have had a strong start to the financial year and delivered our highest production levels in nine quarters and our highest Q1 cashflow on record. This is testament to the thousands of determined people in the business working tirelessly to deliver every aspect of our Reimagine strategy,'' said Adrian Mardell, Chief Executive Officer, JLR.
Tata Motors Q1 Results Live: JLR free cash flow
The cash on hand increased to £4 billion and net debt reduced to £2.5 billion at June 30, 2023. JLR's order book stood at 185,000 units with Range Rover, Range Rover Sport and Defender representing 76 per cent of the order book.
Tata Motors reported free cash flow (FCF) at £451 million, the highest first quarter cash flow on record, while the cumulative FCF over the last three quarters stood at £1.8 billion.
Tata Motors Q1 Results Live: Ordinary shares
Tata Motors also announced that it will issue seven fully paid-up new ordinary shares with a face value of ₹2 for every 10 'A' ordinary shares with a face value of ₹2. This issuance will serve as consideration for the reduction and cancellation of the 'A' ordinary shares. The swap ratio implies 23 per cent premium for every ‘A’ shares.
Tata Motors Q1 Results Live: FY24 has begun on the right note, says CFO, Tata Motors
“FY24 has begun on the right note with all automotive verticals delivering strong performances. The distinct strategy employed by each business is now delivering consistent results and making them structurally stronger. We remain confident of sustaining this momentum in the rest of the year and achieve our stated goals,'' said PB Balaji, Group Chief Financial Officer, Tata Motors.
Tata Motors Q1 Results Live: EBITDA, margins in June quarter
The auto major's consolidated operating profit, calculated as earnings before interest, taxes, depreciation and amortization (EBITDA), surged more than fivefold on year to ₹13,218 crore. The operating margin expanded by 700 basis points (bps) year-on year to 14.4 per cent in the June quarter.
Tata Motors Q1 Results Live: Revenue from operations ar ₹1.02 lakh crore
The auto major's revenue from operations surged 42 per cent to ₹102,236.08 crore in the June quarter - surpassing the ₹1 lakh crore-mark in line with Street estimates.
The net auto debt reduced by ₹417,000 crore on margin improvement driven by JLR and commercial vehicles (CV) segments.
Tata Motors Q1 Results Live: Net profit at ₹3,202 crore
Tata Motors reported a consolidated net profit of ₹3,202 crore attributable to the shareholders of the company, compared to a net loss of ₹5,006.66 crore in the corresponding period last year. Analysts had expected strong earnings led by improving margins and healthy sales in its luxury arm Jaguar and Land Rover (JLR).
Tata Motors Q1 Results Live: Tata Motors share price ends higher ahead of Q1 results
Tata Motors share price ended 1.62% higher at ₹639.45 apiece on the BSE ahead of the announcement of Q1 results. The stock hit a 52-week high of ₹642.50 during the day.
Tata Motors Q1 Results Live: Revenue growth seen at 36% YoY: ICICI Securities
ICICI Securities estimates Tata Motors to report Q1 net profit of ₹3,151.4 crore. It expects Q1 revenue to rise 36% YoY to ₹98,080.6 crore.
EBITDA is expected to jump 283% YoY to ₹12,168.5 crore.
Tata Motors Q1 Results Live: Girish Wagh, ED, Tata Motors on CV business
Tata Motors Commercial Vehicles domestic sales at 82,225 in Q1 FY24 were 14.1% lower than Q1 FY23 sales while for the month of June 2023, they were 20.2% higher than the vehicle sales registered in May 2023.
We successfully upgraded the entire vehicle portfolio during BS6 Phase 2 transition, beyond the mandatory requirements, to offer more features, value-adds and benefits to customers. M&HCV growth was driven by the strong infrastructure push by the Government, as well as increased activity in e-commerce, construction, and replacement demand in auto logistics and petroleum sector.
During the quarter, we started deliveries of Electric Buses, in accordance with the CESL tender mandate and expect to ramp up supplies in the coming months.
Looking ahead, the promising monsoon and continuing infrastructure thrust by the Government auger well for the CV industry, even as it faces the headwinds of high interest rates, fuel prices and inflation, said Girish Wagh, Executive Director, Tata Motors.
Tata Motors Q1 Results Live: Analyst's take on JLR management change
“We believe that these leadership announcements are positive for JLR, as they reflect the company's commitment to its Reimagine strategy, which aims to enter an electric future and transform into a digitally savvy modern luxury business. Adrian Mardell and Richard Molyneux have played key roles in implementing the Refocus transformation programme (cost control program), which delivered GBP 1.1 billion of savings in FY23, and GBP 1.5 billion in FY22," said Himanshu Singh – Research Analyst, Prabhudas Lilladher Pvt Ltd.
Tata Motors Q1 Results Live: Revenue may decline 5% QoQ: Prabhudas Lilladher
We expect a revenue decline of 5% QoQ led by lower volumes at CV and JLR and mixed ASP performance across segments. Volume decline at JLR was highlighted by Tara Motors and should see some pressure on margins as well. We expect EBITDA margin at 10.6%, down 150 bps QoQ, brokerage house Prabhudas Lilladher said.
Tata Motors Q1 Results Live: Passenger Vehicle EBIT margin may expand 190 bps YoY: Motilal Oswal
Tata Motors’ India business performance was a mixed bag as CV volumes declined 15% YoY, due to the impact of pre-buy in Q4FY23 while PV grew 8% YoY. However, led by lower raw material costs, cost control, and operating leverage (in PVs), EBIT margin for CV and PV is likely to expand 90 bps and 190 bps YoY in Q1FY24, said domestic brokerage house Motilal Oswal Financial Services.
The brokerage firm raised EPS estimates for FY24 and FY25 by 8.7% and 11.6%, respectively, driven by 9% and 11% upgrades in JLR and better visibility for Indian business.
Tata Motors Q1 Results Live: CV business sees slowdown in Q1
Tata Motors’ Commercial Vehicle (CV) sales in Q1 dropped 15% to 85,795 units from 1,00,921 units sold in the same quarter last year.
Domestic sale of MH&ICV, including trucks and buses, in Q1FY24 stood at 34,256 units, compared to 37,491 units in Q1 FY23.
Total sales for MH&ICV Domestic & International Business, including trucks and buses, in Q1 FY24 stood at 35,645 units, compared to 39,696 units in Q1 FY23.
Tata Motors Q1 Results Live: Total sales in Q1 fall over 2% YoY to 2,26,245 units
Tata Motors total sales in the domestic and international market for Q1FY24 fell 2.16% to 2,26,245 vehicles as compared to 2,31,248 units during Q1FY23.
Total domestic sales of the company during the quarter declined 2% to 2,22,345 units from 2,25,828 units, YoY.
Tata Motors Q1 Results Live: JLR appoints Adrian Mardell as CEO
On July 20, Jaguar Land Rover (JLR) announced the appointment of Adrian Mardell as its Chief Executive Officer for a three year term. Mardell was appointed Interim Chief Executive Officer on November 16, 2022, having been Chief Financial Officer and a member of the JLR Board of Directors for three years prior.
JLR had also announced the appointment of Richard Molyneux as Chief Financial Officer of the company. Richard Molyneux was appointed Acting Chief Financial Officer, on 12 December 2022, following six years as Finance Director, Operations, it said.
Tata Motors Q1 Results Live: JLR India reported highest ever June quarter sales
JLR India recorded its best ever first quarter sales in the country in April-June 2023, the company had said. Its retail sales rose 102% YoY to 1,048 units in the June quarter.
Tata Motors Q1 Results Live: Tata Motors shares hit 52-week high ahead of Q1 results
Tata Motors shares hit a 52-week high of ₹641.50 apiece on the BSE, gaining nearly 2% on Tuesday ahead of the announcement of Q1 results.
Tata Motors share price has witnessed a sharp rally this year. The stock has gained 64% YTD, while it has jumped nearly 35% in three months.
Tata Motors Q1 Results Live: Tata Motors to see 44% consolidated revenue growth: Emkay Global
Tata Motors is likely to register 44% consolidated revenue growth, driven by strength in JLR (+70% YoY with 30% higher volumes due to improved production levels). We expect consolidated EBITDA margin to drop by ~90 bps QoQ to 11.2%, largely due to adverse mix and lower volumes in standalone (India CV) operations.
Tata Motors Q1 Results Live: Strong operating performance likely YoY
Tata Motors is expetced to report strong operating performance in Q1FY24. Its consolidated earnings before, interest, tax, depreciation, and amortization (EBITDA) in Q1 is seen jumping 129% YoY to ₹13,450 crore.
EBITDA margin is likely to expand by 522 basis points (bps) YoY to 13.4%.
Tata Motors Q1 results Live: Net profit seen at ₹2,600 crore, JLR margins could expand
Tata Motors Q1 Result Preview: Automobile major Tata Motors is likely to report strong financial performance in the quarter ended June 2023 led by improving margins and healthy sales in its luxury arm Jaguar and Land Rover (JLR). Read full report here
Tata Motors Q1 Results Live: JLR likely to see healthy volume growth of 30% YoY
The luxury car maker Jaguar Land Rover (JLR), a part of Tata Motors, is expected to see healthy volume growth of 30% YoY due to improved production levels, easing chip shortages and continued traction toward new models.
Tata Motors Q1 Results Live: Consolidated revenue growth seen at 43% YoY
Tata Motors consolidated revenue in Q1FY24 is expected to see a growth of around 43% at ₹1,03,284 crore driven by strength in luxury arm Jaguar Land Rover (JLR). Tata Motors’ Passenger Vehicle (PV) division witnessed 8% YoY volume growth during the quarter.
Tata Motors Q1 Results Live: Auto major may turn black this quarter
Tata Motors is likely to report strong financial performance in the quarter ended June 2023 led by improving margins and healthy sales in its luxury arm Jaguar and Land Rover (JLR). The company is expected to turn into black this quarter and report net profit of ₹2,600 crore as compared to a loss of ₹5,731 crore in the same quarter of the previous year, as per average analysts estimates.
Tata Motors Q1 Results Live: Net profit seen at ₹2,600 crore
Tata Motors Q1 net profit is expected to be at ₹2,600 crore as compared to a loss of ₹5,731 crore in the same quarter of the previous year, as per average analysts estimates.
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Tata Motors Q1 results: Net profit at ₹3,202 crore on JLR, CV biz growth; EBITDA surges 177% to ₹14,700 crore | Mint - Mint
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