The country's leading automobile company Tata Motors has made a profit of Rs 1738 crore for the first time in two years. However, the company's earnings have seen a decline. Earlier, Tata Motors was incurring losses due to Jaguar and Land Rover. But this time due to this JLR, the company's profits are increasing. There was a loss of 27 thousand crores last year - the company had a loss of 26,992.5 crores in the third quarter of last year. The company has come in profit this quarter. However, the company's revenue fell by 6.8 percent to Rs 71,676.1 crore. At the same time, the company's income was Rs 76915 crore in the last financial year.
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Apart from this, the company's Ebit has increased from Rs 6,126.5 crore to Rs 7,393.8 crore while the Ebit margin has grown from 8% to 10.3%. The company reported a standalone loss of Rs 1,039.5 crore in the third quarter, while the company reported a profit of Rs 518.9 crore in the third quarter of the last fiscal, apart from the standalone revenue of the company growing by 33.1 percent to Rs 10,842.9 crore, as against FY19. The company's revenue in the third quarter was Rs 16,207.6 crore. On a year-on-year basis, the company incurred a standalone Ebit loss of Rs 39.5 crore. In the same way, JLR made a profit in the vehicles sold in China - JLR made a profit of 392 million pounds (Rs 3674 thousand crore) in this quarter due to the sale of vehicles in China.
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The company has reported a 24.3 percent profit in retail sales in China. Along with this, the new Range Rover Evoque has helped the company to come to its bottom line. Jaguar Land Rover, the British unit of the company, grew by 2.8 percent to 6.4 billion pounds (Rs 5,995 thousand crores). JLR CEO Ralph Speth said that this year was a difficult year for the automobile industry globally, but selling vehicles in China has helped us a lot. Our financial results have shown improvement so that the company will now be ahead in manufacturing electric, petrol and diesel vehicles. The company's EBITDA margin has seen an improvement of three percent. However, the situation may change further now with Coronavirus.
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