De­mand Re­viv­ing, Worst may be Over for Tata Mo­tors

The Economic Times - - Companies: Pursuit Of Profit -

Mum­bai: The worst is likely over for Tata Mo­tors, as de­mand — bat­tered by de­mon­eti­sa­tion late last year — grad­u­ally re­vives in the com­mer­cial ve­hi­cles seg­ment, man­ag­ing di­rec­tor Guenter Butschek said on Thurs­day.

In­dia’s big­gest auto maker by rev­enue is now bet­ter pre­pared than be­fore to tackle acute mar­ket volatil­ity, he added. “It re­quires a lot of struc­tural in­ter­ven­tions, all of which have been launched now,” Butschek told ET. He added that he sees a “much more pre­dictable mar­ket in the months to come,” although adding that he didn’t “have overtly pos­i­tive ex­pec­ta­tions of 2017-18,” be­cause a lot of clar­ity is yet to emerge on is­sues such as the tran­si­tion in In­dian emis­sion norms.

Tata Mo­tors’ net profit for the Oct-De­cem­ber quar­ter plunged 96% to ₹ 112 crore, owing pri­mar­ily to weaker mar­gins on its UKbased lux­ury car unit Jaguar Land Rover. Its stand­alone let loss widened to ₹ 1,046 crore from ₹ 137 crore a year ear­lier, due to a fall in vol­umes in the medium and heavy com­mer­cial ve­hi­cle seg­ment, pri­mar­ily owing to de­mon­eti­sa­tion.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.