Tata Motors shares jump 4%; hit 52-week high post first quarter earnings

New Delhi: Tata Motors stock on Wednesday climbed 4 per cent to hit its 52-week high after the company reported a consolidated net profit of Rs 3,300.65 crore for the first quarter ended June 30.

The company's stock jumped 4 per cent to its 52-week high of Rs 665.30 on the BSE.

At the NSE, it rallied 4 per cent to reach its 52-week high of Rs 665.40.

Tata Motors on Tuesday reported a consolidated net profit of Rs 3,300.65 crore for the first quarter ended June 30, riding on a sharp improvement in performance of its British arm Jaguar Land Rover and commercial vehicles business.

The company had posted a consolidated net loss of Rs 4,950.97 crore in the same quarter last fiscal, Tata Motors said in a regulatory filing.

Consolidated revenue from operations stood at Rs 1,01,528.49 crore, as compared to Rs 71,227.76 crore in the year-ago period, it added.

Total expenses were at Rs 98,266.93 crore, as against Rs 77,783.69 crore.

On a standalone basis, loss after tax narrowed to Rs 64.04 crore, from Rs 181.03 crore in the year-ago period, the filing said.

Standalone revenue from operations was at Rs 15,733.05 crore, as compared to Rs 14,793.12 crore, it added.

Overall, Tata Motors said it continued its strong performance in Q1 FY24, showing a sharp improvement driven by JLR and commercial vehicles businesses, whilst the passenger vehicles business was steady, the company said.