Tata Motors Roars to New Heights: Q3 Net Profit Soars 137.5%, Shares Surge Over 7% to Fresh 52-Week High

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Tata Motors witnessed a robust surge in its stock price, surging over 7% to mark a new 52-week high on Monday. This surge followed the release of strong Q3 results, revealing a two-fold increase in the company's consolidated net profit. Tata Motors shares experienced a substantial gain, reaching up to 7.19% at ₹942.00 each on the BSE.

For the third quarter of FY24, Tata Motors reported a net profit of ₹7,025 crore, reflecting a remarkable 137.5% growth compared to ₹2,957.71 crore in the corresponding period of the previous year. This impressive performance was attributed to a robust demand for both passenger and commercial vehicles, along with the impact of price hikes and an enhanced product mix.

In Q3FY24, the company's overall revenue witnessed a significant rise of 24.9%, reaching ₹110,577 crore compared to ₹88,489 crore in the same period last year. Notably, the revenue from its British luxury car unit, Jaguar Land Rover (JLR), experienced a noteworthy increase, reaching ₹76,665 crore from ₹58,863 crore year-on-year.