Tata Motors Ltd., the owner of Jaguar Land Rover, came away with a nice chunk of change in the first quarter of the automotive fiscal year. Not to mention a healthy climb for its stock.
The company posted a $430 million profit, which helped the stock climb 5.6 percent to a 19-year high, according to Bloomberg. That is nearly twice the amount of profit that analysts – and we use that term loosely – predicted. Sales for the company increased by 64 percent to $5.8 billion.
Jaguar Land Rover played a big role in all this, posting a $370 million profit during the first quarter. Sales increased from 35,947 to 57,153. That sales jump can easily be attributed to their fantastic new cars, including the XF and the XJ.
Tata was even successful with their own car and truck division, as it saw a 48 percent increase to a total of 181,708 vehicles sold, which included 14,779 Nano cars. That growth can be attributed to the strength of India’s economy.