Tata Motors’ shares jump on strong JLR sales

Tata Motors’ shares jump on strong JLR salesStock in Tata Motors gained 0.64 per cent to Rs 433.50 a share in early morning trade on Friday on the Bombay Stock Exchange, after the company's UK-based luxury car arm Jaguar Land Rover (JLR) reported strong Q1 sales.

JLR on Thursday announced that its sales jumped 8 per cent to 124,776 units in March quarter of 2014 over the same quarter of the previous year. JLR sales rose 3% to 55,183 units in March 2014 over March 2013.

In the month of March alone, JLR sales jumped 3 per cent year-on-year to 55,183 vehicles.

Jaguar sales increase 19 per cent to 24,031 units in the three month through March 31, 2014; while in the month of March, sales of these vehicles jumped 19 per cent to 11,731 units over the corresponding periods of the previous year.

Sales of Land Rover vehicles climbed 6 per cent to 100,745 units in the quarter under review. In March the company sold 43,452 units.

Commenting on the sales figures, JLR Group Sales Operations Director Andy Goss said, "This has been a strong start to the year for both brands thanks to continued global demand for our latest model offerings."

On consolidated basis, Tata Motors' net profit grew a whopping 195.2 per cent to Rs 4804.80 crore, while total income jumped 38.4 per cent to Rs 64034.30 crore in the December quarter of 2013 over the same quarter of the previous year.

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