Tata Motors Group Net Revenue grows 24.1% to Rs. 33,572 crores - Profit Before Tax grows 3% to Rs. 2,346 crores

Consolidated Results for the Quarter ended June 30, 2011. End Quote

(1888PressRelease) August 12, 2011 - The Tata Motors Group today reported consolidated revenues (net of excise) of Rs. 33,572 crores for the quarter ended June 30, 2011, posting a growth of 24.1% over Rs. 27,056 crores in the corresponding quarter of the previous year, on the back of growth in volumes, improved product and market mix. The Consolidated Profit before Tax (PBT) for the quarter was Rs. 2,346 crores, compared to Rs. 2,275 crores for the corresponding quarter of the previous year. The Consolidated Profit (After Tax and post minority interest and profit in respect of Associate companies) for the quarter was Rs. 2,000 crores, as compared to Rs. 1,989 crores in the corresponding quarter of the previous year.

Tata Motors Stand-alone Results for the Quarter ended June 30, 2011

Tata Motors' sales (including exports) of commercial and passenger vehicles for the quarter ended June 30, 2011, stood at 197,606 units, representing a growth of 3.8% as compared to the corresponding quarter of the previous year.

In the domestic market, the Company's commercial vehicles sales increased by 13.0%, as compared to the corresponding quarter of the previous year to 113,186 units. The Company's market share in commercial vehicles was 60.1%. Passenger vehicles, including Fiat and Jaguar and Land Rover vehicles distributed in India, declined by 10.7% in the domestic market, as compared to the corresponding quarter of the previous year to 69,529 units. The market share in passenger vehicles stood at 11.9%.

Tata Motors' gross revenue for the quarter ended June 30, 2011, was Rs. 12,925 crores, posting a growth of 14.4% over Rs. 11,297 crores in the corresponding quarter of the previous year.

Revenues (net of excise) of Rs. 11,898 crores represented a growth of 14.2% over Rs. 10,416 crores in the corresponding quarter of the previous year. Cost pressures, including commodity price increase, resulted in a reduction in the operating margins to 8.4%, and an Operating Profit (EBITDA) of Rs. 999 crores in the quarter, declining by 15.0% over Rs. 1,175 crores in the corresponding quarter of the previous year. The PBT for the quarter is Rs. 466 crores as compared to Rs. 538 crores in the corresponding quarter of the previous year. The PAT for the quarter is Rs. 401 crores as compared to Rs. 396 crores in the corresponding quarter of the previous year.

Jaguar Land Rover PLC

Jaguar Land Rover sales for the quarter ended June 30, 2011, stood at 62,090 units, representing a growth of 4.9% as compared to the corresponding quarter of the previous year on the back of better product & market mix with strong growth in China & Russia.

Revenues of GBP 2,712 million represented a growth of 19.9% over GBP 2,262 million in the corresponding quarter of the previous year. Cost pressures and impact of exchange rates resulted in a marginal reduction in the operating margins to 15.1% and an Operating Profit (EBITDA) of GBP 408 million in the quarter, a growth of 16.9% over GBP 349 million in the corresponding quarter of the previous year. The PBT for the quarter is GBP 248 million as compared to GBP 239 million in the corresponding quarter of the previous year. The PAT for the quarter is GBP 219 million as compared to GBP 226 million in the corresponding quarter of the previous year.

In May 2011, JLR successfully completed issue of 7-year and 10-year Bonds aggregating GBP 1 Billion, part of which has been used for refinancing of existing loans and general corporate purposes. A new vehicle assembly plant was inaugurated in Pune, India, in May 2011. The facility at present is assembling Land Rover's Freelander 2 vehicles supplied in Complete Knock Down (CKD) form, from the Halewood manufacturing plant in Liverpool.

Jaguar has announced the new 2.2 litre diesel engine in the 2012 model year Jaguar XF and has also confirmed its decision to build the C-X75 hybrid supercars. The much awaited Range Rover Evoque, being launched in September 2011, has received significant expression of interest and around 18,000 bookings.

Tata Daewoo

Tata Daewoo Commercial Vehicles Co. Ltd. registered net revenues of Rs. 880 crores, and recorded a Profit After Tax of Rs. 16 crores in the quarter ended June 30, 2011.

Tata Motors Finance

Tata Motors Finance Limited, the Company's captive financing subsidiary, registered net revenues of Rs. 420 crores and reported a Profit After Tax of Rs. 49 crores in quarter ended June 30, 2011.

The Financial Results for the quarter ended June 30, 2011, are enclosed.

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