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Tata Motors net halves to Rs 1,001 crore in FY09
Posted on: 30-05-2009 , 04:: | DY365 Bureau

This is the lowest net profit reported by the company in the past five years. In 2003-04, the company had posted Rs 810 crore as net profit.

The company, which chose not to disclose its fourth quarterly results separately, posted a net profit of Rs 1,001 crore for the year ended March 31, 2009 as against Rs 2,028 crore reported in the previous year.

Owing to the downturn, Tata Motors has also shrunk its capital expenditure (capex) by about 37 per cent to Rs 2,500 crore for the next two years, from Rs 4,000 crore.

Ravi Kant, managing director, Tata Motors, said, "None of the vehicle development programmes have been significantly impacted, but there are a few projects that have been put on the back-burner for the time being."

Net sales of the company for the reporting year dipped by 14 per cent to Rs 28,292 crore, as compared to Rs 32,885 crore posted in the previous year.

Commercial vehicles like trucks and buses contribute 60 per cent to the top line of the company, while passenger vehicles like cars and utility vehicles contribute the balance 40 per cent.

Raw material consumption and other similar expenses were reduced by a considerable extent following plant shutdowns in Jamshedpur, Lucknow and Pune last year.

Company executives said that some revival is expected in the upcoming months based on improved conditions during the last few months.

"Barring heavy trucks, all segments have done very well recently and we are hopeful that the trend will continue," Kant told reporters.

 
 

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