On Monday, February 5, Tata Motors share jumps 7.5% following Q3 results to reach an all time high of Rs 950. This significant rise was attributed to the Tata Group auto giant’s outstanding financial results for the October-December (Q3 FY24) period, following which the automaker’s share price reached an all-time high.
Tata Motors share jumps 7.5 percent following Q3 results
Tata Motors reported a consolidated net profit of Rs 7,025.1 crore for Q3, reflecting a remarkable 2.4 times increase compared to the same period the previous year. The year-on-year revenue growth was equally impressive, reaching Rs 1,09,799.2 crore, as per regulatory filings.
Related News: SBI Reports a 35 Percent Decline in Net Profit for Q3 2024
The results exceeded analysts’ expectations, which anticipated the Mumbai-based automaker’s net profit to grow 54 percent year-on-year (YOY) to Rs 4,547 crore in the October-December quarter. The estimates also suggested that revenue would shoot up by 22 percent on-year to Rs 1,08,169 crore.
Furthermore, the Tata Group company’s earnings before interest, taxes, depreciation and amortization (EBITDA) surged by a sharp 42.5 percent YoY to Rs 15,333 crore, and the operating margin expanded by 171 basis points to 13.94 percent. This stellar performance solidifies Tata Motors’ position not only as a top gainer in Nifty50 but also underscores the company’s robust market presence and successful product strategies, with popular models like Nexon and Punch contributing to its financial success.
