NEW DELHI: Home-grown auto major Tata Motors finally returned to profitability during the March quarter. The company posted consolidated net profit of Rs 1,117.48 crore during Q4 of FY19 after reporting losses to the tune of Rs 26,961 crore during the December quarter. On a year-on-year basis, Tata Motor’s profit fell by 49 per cent. The company had reported a profit of Rs 2,175 crore in a year ago period.
Revenue declined to Rs 86,422 crore against Rs 89,928.97. JLR returned to profitability in the fourth quarter with profit before tax at £269 million, down 27.1 per cent, YoY. For the full financial year 2018-19, Tata Motors has reported a consolidated net loss of Rs 28,826.23 crore as against net profit of Rs 8,988.91 reported in the financial year 2017-18. PAT was impacted by exceptional items of Rs 29,600 crore.
Bharat Forge net profit jumps threefold to R299.5 crore in Q4
Auto components major Bharat Forge reported a nearly threefold jump in its standalone net profit to Rs 299.5 crore for the March quarter. Net profit in the corresponding quarter a year ago stood at Rs 100.33 crore, the company said in a filing to BSE. For the full year 2018-19, the firm’s consolidated net profit stood at Rs 1,032.59 crore as compared with Rs 753.97 crore a year ago, a growth of 36.95 per cent.
Bharat Forge Chairman and Managing Director B N Kalyani said FY19 has been a record year for the company with strong growth in revenue and profit. “During the year, the company has secured business wins of $150 million across sectors and geographies. An encouraging trend is the large proportion of wins driven by our work on new product development,” Kalyani added.
BPCL profit rises 16% to R3,125 cr; revenue up 10% year-on-year
Bharat Petroleum Corporation (BPCL) posted a 16.21 per cent year-on-year rise in profit at Rs 3,124.91 crore for the quarter ended March 31. Revenue rose 10.33 per cent to Rs 83,941.67 crore from Rs 76,080.39 crore on a yearly basis.
The company’s average gross refining margin (GRM) came in at $4.58 per barrel for the full financial year against $6.85 last year. It had reported the lowest GRM among its peers for the quarter-ended December, beset by plant shutdowns and fire mishaps.
BPCL also reported higher inventory gains, the difference between the price at which a company buys crude oil and the price at which fuel is sold, during the fourth quarter as Brent crude prices rose 30 per cent and averaged around $63 a barrel. Besides, the company’s board recommended a final dividend of Rs 8 per equity share at a face value Rs 10 apiece.