Tata Motors hopes to sell over 10,000 units per month of the Nano in a month or two, says says P Telang managing director -- India operations, Tata Motors. He made these comments at a press briefing to announce the company’s third quarter results. Nano sales last topped the 10,000 mark last April. After that, sales numbers have varied but in recent months, the numbers have been increasing. In January, sales crossed the 7,000 mark, and the Nano figured in the Top 10 after a gap of several months.
Meanwhile, the company reported consolidated revenues (net of excise) of Rs 45,260 crore for Sept-Dec 2011, up 44 percent over Rs 31,442 crore in the corresponding quarter of the previous year on the back of growth in volumes, improved product and market mix. The Consolidated Profit before Exceptional item and Tax was Rs 4,658 crore, posting a growth of 68.7 percent over Rs.2,760 crores in the year-earlier quarter.
The Consolidated PBT for the quarter was Rs 4,494 crore compared to Rs 2,728 crore 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 3,406 crore, as compared to Rs.2,424 crore in the corresponding quarter of the previous year.
The company’s standalone revenues (net of excise) of Rs 13,338 crore for the quarter represented a growth of 18.2 percent over Rs 11,280 crore in the corresponding period last year. Higher marketing spends and overall cost pressures, resulted in a reduction in the operating margins to 6.7 percent and an Operating Profit (EBITDA) of Rs.897 crore in the quarter, declining by 26.3 percent over Rs1,217 crore in the corresponding period last year.
The PBT for the quarter is Rs 186 crore as against Rs 531 crore in the corresponding period last year and the PAT is Rs.174 crore as compared to Rs.410 crore in the corresponding period last year.
Tata Motors' sales (including exports) of CVs and passenger vehicles for Nine months FY 2011-12, stood at 640,334 units, 8.2 percent as compared to the corresponding period last year. In the domestic market, CV sales for Sept-Dec 2011 stood at 131,220 units, an increase of 15.5 percent over the corresponding period last year. CV sales for the nine months increased by 15.5 percent to 374,532 units, as compared to the corresponding period last year. Its marketshare in commercial vehicles was 59.4 percent for Nine months FY 2011-12.
Passenger vehicles, including Fiat and Jaguar/ Land Rover vehicles distributed in India, grew by 33.2 percent domestically in the quarter as compared to the corresponding period last year to 85,963 units. Sales for April-Dec 2011-12 declined two percent to 220,574 units, as compared to the year-earlier period. The company said focused network actions have positively influenced retail sales. Marketshare in passenger vehicles improved to 12.6 percent for April-Dec 2011-12 largely driven by sales in the recent quarter. The marketshare in cars for Q3 FY 2011-12 stood at 14.6 percent.