Tata Motors’ Robust Q4 Performance Boosts Profit; Shares Experience Short-Term Setback
Credit: Mint
13.05.2024: Tata Motors celebrated a remarkable surge in its consolidated net profit for the fourth quarter ending March 2024, reaching a staggering Rs 17,528.59 crore. This achievement was fueled by robust performances across all three of its automotive divisions, with particular emphasis on the stellar contributions from its British subsidiary, Jaguar Land Rover.
Despite this impressive financial feat, Tata Motors experienced a temporary setback in the stock market on Monday, witnessing an 8% decline in its share value. This drop came in response to investors’ lukewarm reception of the company’s Q4 earnings report.
The stock’s downward spiral saw it hit Rs 959.80 apiece on the BSE, marking an 8.32% fall during the day. Similarly, on the NSE, it dipped by 8.33% to Rs 959.40 per share, shedding Rs 29,016.23 crore from its market capitalization, which now stands at Rs 3,19,012.47 crore.
Despite this brief market turbulence, Tata Motors remains a stalwart in the automotive sector, evidenced by its strong showing in Q4 FY24. The company’s total consolidated revenue climbed to Rs 1,19,986.31 crore, showcasing a notable increase from Rs 1,05,932.35 crore in the corresponding period last year.
In light of its exceptional quarterly performance, Tata Motors’ shares may have taken a momentary dip, but its long-term growth trajectory and market resilience remain unwavering.