Shares of Tata Motors jumped over 4 per cent in morning trade on Monday to hit its 52-week high level, after the company reported a consolidated net profit of Rs 5,408 crore in the March quarter.
The stock climbed 4.16 per cent to its 52-week high of Rs 537.15 on the BSE.
At the NSE, it rallied 4.10 per cent to reach the 52-week high of Rs 537.15.
It emerged as the biggest gainer among the Sensex firms.
Fuelled by rising domestic demand, pricing actions and easing supply chain issues, Tata Motors reported a consolidated net profit of Rs 5,408 crore in the March quarter and aims to improve the profit margins this fiscal despite headwinds.
After driving into the profitability lane, the homegrown auto maker expects to continue new product launches, debottleneck capacities and push EV penetration further to deliver ”market-beating growth in coming years”.
The company had posted a consolidated net loss of Rs 1,033 crore in the January-March quarter of 2021-22 fiscal, Tata Motors said in a regulatory filing on Friday.
Easing inflation, better mix, pricing actions and favourable operating leverage also resulted in strong improvements in margins and profits, the company stated.
Total revenue from operations stood at Rs 1,05,932 crore in the fourth quarter, as against Rs 78,439 crore in the year-ago period, it added.
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 the fourth quarter of 2022-22.