Tata Motors posts robust fiscal results; net profit up 6 percent

Company to raise $1.7 billion to fund its purchase of Land Rover and Jaguar

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The net profit (stand alone) for FY08 was Rs.2028.92 crore as against Rs.1913.46 crore posted a year earlier, a year-on-year (YoY) growth of 6.03 percent.

Net sales (stand alone) for FY08 was Rs.28,730.82 crore as against Rs.27,470.03 crore posted in FY07, a YoY growth of 4.58 percent.

Basic earnings per share (EPS) for Tata Motors' standalone operations in FY08 was Rs.52.64 as against Rs.49.76 in FY07, a YoY rise of 5.85 percent.

Net sales (consolidated) for FY08 was Rs.35,651.48 crore as against Rs.32,361.20 crore for FY07, a YoY gain of 10.16 percent.

Net profit (consolidated) for FY08 was Rs.2167.70 crore as against Rs.2169.99 crore, a YoY decline of 0.10 percent.

Tata Motors has reported basic earnings per share (EPS) of Rs.56.24 for its consolidated operations in FY08 as against Rs.56.43 in FY07, a YoY decline of 0.33 percent.

The Board of Directors has recommended a dividend payout of 150 percent or at the rate of Rs.15 on shares of face value of Rs.10 for 2007-08.

During FY08, Tata Motors sold higher volumes of commercial vehicles (3,12,935 as against 2,98,586 or YoY growth of 4.8 percent) but saw a 4.5 percent decline in sales of its passenger vehicles (2,18,055 as against 2,28,220).

The company also saw a 2.21 percent rise in its exports from 53,474 (FY07) to 54,659 (FY08).

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