Tata Motors stock spikes 10% on strong JLR sales in Q4
The stock of Tata Motors added as much as 10.30 per cent to Rs 463.90 on the Bombay Stock Exchange (BSE), but was still trading 3.95 per cent lower from its 52-week high of Rs 483 hit on June 01 last year.
- May 31, 2016,
- Updated May 31, 2016 11:09 AM IST
Shares of Tata Motors spiked over 10 per cent after the auto major reported a three-fold jump in its consolidated net profit at Rs 5,177.06 crore for the fourth quarter ended March 31, driven by strong performance of its British arm Jaguar Land Rover.
The stock of Tata Motors added as much as 10.30 per cent to Rs 463.90 on the Bombay Stock Exchange (BSE), but was still trading 3.95 per cent lower from its 52-week high of Rs 483 hit on June 01 last year.
Commenting on the performance, the company said it had stronger operating performance in both standalone as well as Jaguar Land Rover business and lower net finance expenses.
The gains were however partly offset by higher depreciation and amortisation expenses, adverse revaluation of EUR payables and one-time reserves and charges of Rs 1,580 crore for the industry-wide recall in the US of potentially faulty airbags supplied by Takata, it added.
The company's board, which met today, approved a dividend of Rs 0.20 per share of Rs 2 each and a dividend of Rs 0.30 per 'A' ordinary share of Rs 2 each for the financial year ended March 31, 2016.
Shares of Tata Motors spiked over 10 per cent after the auto major reported a three-fold jump in its consolidated net profit at Rs 5,177.06 crore for the fourth quarter ended March 31, driven by strong performance of its British arm Jaguar Land Rover.
The stock of Tata Motors added as much as 10.30 per cent to Rs 463.90 on the Bombay Stock Exchange (BSE), but was still trading 3.95 per cent lower from its 52-week high of Rs 483 hit on June 01 last year.
Commenting on the performance, the company said it had stronger operating performance in both standalone as well as Jaguar Land Rover business and lower net finance expenses.
The gains were however partly offset by higher depreciation and amortisation expenses, adverse revaluation of EUR payables and one-time reserves and charges of Rs 1,580 crore for the industry-wide recall in the US of potentially faulty airbags supplied by Takata, it added.
The company's board, which met today, approved a dividend of Rs 0.20 per share of Rs 2 each and a dividend of Rs 0.30 per 'A' ordinary share of Rs 2 each for the financial year ended March 31, 2016.