After clocking losses for seven straight quarters, Tata Motors on Wednesday posted a consolidated net profit of Rs 3,043 crore in the third quarter (Q3) of 2022-23. This came on the back of a strong order book, better semiconductor chip supply, tempered commodity prices, and a better product mix.
“We remain cautiously optimistic about the demand situation, notwithstanding the global uncertainty. The chip supply is expected to improve further. Volumes will continue to ramp up steadily, particularly for Jaguar Land Rover (JLR),” Tata Motors Group Chief Financial Officer (CFO) P Balaji told reporters in a conference call.
About 67 per cent of Tata Motors’ total revenue comes from JLR.
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