Tata Motors net falls to Rs 25.7 crore

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SME Times News Bureau | 27 Aug, 2016
Indian automobile major Tata Motors Ltd closed the first quarter of the current fiscal with a net profit of Rs.25.7 crore - a steep fall from Rs.289.84 crore posted during the corresponding period of the previous fiscal.

In a regulatory filing in BSE, the company said its total income for the first quarter increased to Rs 12,089.29 crore as against Rs 11,307.50 crore earned during the quarter ended June 30, 2015.

The company's scrip at BSE went up to Rs 503.65 as against Rs 493.75 - the closing price on Thursday.

On a consolidated basis, Tata Motors posted a net profit after tax, minority interest and share of profit of associates of Rs 2,260.40 crore for the period under review as compared to Rs 5,254.23 crore for the quarter ended June 30, 2015.

The consolidated total income for the first quarter stood at Rs 67,229.69 crore up from Rs 61,734.29 crore earned during the quarter ended June 30, 2015.

Tata Motors' Board on Friday also approved by way of an enabling resolution to raise funds aggregating Rs.3,000 crore in one or more tranches issuing secured/unsecured debentures and or bonds.