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Tata Motors shares soar 3% on strong May JLR UK sales; up 28% in 6 months

Tata Motors' May JLR UK sales zoomed 29 per cent on a year-on-year (Y-o-Y) basis to 6,093 units, as opposed to 4,732 units in May last year

Tata Motors

Tata Motors

SI Reporter New Delhi

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Tata Motors share price rises: Automaker Tata Motors share price rose as much as 3.27 per cent to hit an intraday high of Rs 933.75 per share. 

The surge came after the company announced Jaguar Land Rover (JLR) UK May sales numbers.

Tata Motors’ May JLR UK sales zoomed 29 per cent on a year-on-year (Y-o-Y) basis to 6,093 units, as opposed to 4,732 units in May last year. 

JLR is owned by Tata Motors, a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering an extensive range of integrated, smart and e-mobility solutions. It is India's market leader in commercial vehicles and amongst the top three in the passenger vehicles market.

April sales

Jaguar Land Rover (JLR) registrations in the UK soared 19 per cent to 5,627 units in April 2024 as compared with 4,722 units in April 2023. 

New car registrations in the United Kingdom (UK) recorded a 0.97 per cent rise in April 2024 to 134,274 units from 132,990 units in April 2023.

Land Rover car registrations zoomed 6.7 per cent to 4,298 units in April 2024. While Jaguar car registrations surged 92.1 per cent to 1,328 units in April 2024 as compared with 692 units in April 2023.

Tata Motors financial performance

Tata Motors’ profit zoomed 222 per cent to Rs 17,407.2 crore in Q4FY24, as opposed to Rs 5,407.8 crore in Q4FY23.

The company’s revenue from operations surged 13 per cent to Rs 119,986.3 crore for the March quarter of FY24, from Rs 105,932.35 crore in the March quarter of FY23.

The market capitalisation of Tata Motors is Rs 3,09,096.80 crore, according to Bombay Stock Exchange (BSE).

At 1:58 PM, shares of Tata Motors were trading 2.93 per cent higher at Rs 930.65 per share. In comparison, BSE Sensex was trading 2.54 per cent higher at 73,912.59 levels.

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First Published: Jun 05 2024 | 2:10 PM IST

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