Tata Motors net declines over 30 percent in first quarter

July 30th, 2008 - 9:19 pm ICT by IANS  

Mumbai, July 30 (IANS) Indian auto major Tata Motors has announced a profit after tax of Rs.3.26 billion during the first quarter this fiscal, compared to Rs.4.66 billion for the corresponding period the previous year, reflecting a decline of 30.13 percent. For the latest quarter ending June 30, total revenues stood at Rs.69.28 billion, as compared to Rs.60.56 billion in the corresponding quarter last year, an increase of 14.4 percent.

According to a regulatory statement, sales (including exports) during the quarter under review stood at 1,33,079 vehicles, an increase of more than 3.9 percent over the 1,28,095 vehicles sold in the corresponding period last year.

Domestic sales of commercial vehicles increased 15.9 percent to 71,049 units, while passenger vehicles (including Fiat) was flat at 52,450 units - the same number sold in the corresponding quarter last year.

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