Tata Motors Ltd., parent company of Jaguar Land Rover , enjoyed a healthy climb in the value of its stock following healthy profits reported for the first quarter of the automaker’s fiscal year.
The news that helped push Tata stock up 5.6 percent to its 19-year high was that of a $430 million profit, according to Bloomberg, which equates to profit twice the amount original forecast by analysts. This profit came as the automaker managed to increase sales by 64 percent to $5.8 billion for the same quarter.
Jaguar Land Rover pitches in
The Jaguar Land Rover portion of Tata’s automotive portfolio was responsible for a profit before tax of $370 million during the first quarter, having increased sales from 35,947 in 2009 to 57,153 vehicles sold in the first quarter of 2010.
Tata cars, trucks and buses chip in
Also a player in Tata’s success was its own car, truck and bus division, which saw a sales increase of 48 percent to a total of 181,708 vehicles. The growth is attributed to the stronger-than-expected performance by India’s economy.
References
1.’Jaguar owner Tata jumps…’ view
