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Tata profits boosted by rise in Jaguar Land Rover sales

London , Wed, 15 Feb 2012 ANI

London, Feb 15(ANI): Increasing sales at Jaguar Land Rover have helped Tata's to record huge growth in their profits.


Jaguar Land Rover has witnessed 37 percent rise in the three months to the end of December, which is largely credited to the launch of their new Range Rover Evoque in the summer.


Around 32,000 of the sports model, whose moniker is Baby Range Rover, were sold by the end of last year, enhancing Jaguar Land Rover's quarterly revenue by almost 41 percent, and taking pre-tax profit to 559 million pounds, which is an increase of about 86 percent.


Tata Motor's chief financial officer C.R. Ramakrishnan said strong sales at Jaguar Land Rover mirrored a better product and market mix, Sky News reports.


Net profits at Tata were up 40.5 percent in the fourth quarter of 2011 to 440 million pounds whereas analysts had predicted a rise to 337 million pounds.


Demand for the cars was particularly strong in Russia and China, accounting for 22.4 percent of sales during the quarter.


Tata, which also owns the ultra-cheap Nano car, bought Jaguar Land Rover in 2008 from Ford Motor Group for 1.5 billion pounds. (ANI)


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