Tata Motors shares hit 52-week high on earnings boost

shares Tata Motors It jumped more than 4 per cent in morning trade on Monday to hit a 52-week high, after the company reported consolidated net profit of Rs 5,408 crore in the March quarter.

The stock rose 4.16 per cent to a 52-week high of Rs 537.15 on BSE.

On the NSE, it rose 4.10 percent to a 52-week high of Rs 537.15.

It has emerged as the biggest gainer among Sensex companies.

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Buoyed by rising domestic demand, pricing measures and easing supply chain issues, Tata Motors reported consolidation Net profit of INR 5,408 crore in the March quarter It aims to improve profit margins this fiscal year despite headwinds.

After embarking on the path to profitability, the domestic automaker expects to continue launching new products, de-throttling capabilities, and further driving EV penetration to achieve “market-beating growth in the coming years.”

Tata Motors said in a regulatory statement on Friday that the company posted a consolidated net loss of Rs 1,033 crore in the January-March quarter of 2021-22 financials.

The company stated that inflation relief, better mix and pricing measures and appropriate operating leverage also led to strong improvements in margins and earnings.

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Total revenue from operations was ₹1,05,932 crore in the fourth quarter, as against ₹78,439 crore in the previous year period.

On a standalone basis, the automaker reported a net profit of Rs 2,696 crore for the period under review, as against Rs 413 crore in Q4 2022-22.