Tata Motors posts Q1 profit

Tata-MotorsTata Motors has declared its quarter one financial results for the fiscal year 2010-11. According to the report, the company has beaten all forecasts made earlier.

Tata Motors is India's largest truck and bus maker. Tata Motors has registered a significant net profit rise in the quarter under review. Tata Motors has posted a consolidated net profit of 19.89 billion rupees ($429.59 million) for the quarter that ended in 30th June, 2010.

The company has also informed that higher sales and improved profitability of its Jaguar and Land Rover unit has increased the net profit figure of the firm.

The company has said in a filing at the Bombay Stock Exchange that it had suffered a net loss of 3.29 billion rupees for the first quarter of the financial year 2009-10.

Earlier it was estimated by a market analyst that the firm may end up with a net profit of 9.8 billion rupees for the Q1 in the current year.

With this result, Tata Motors has shown its legacy in the Indian auto market. It has products like utility vehicles, cars and the ultra-cheap Nano under its product line.