Jaguar Land Rover (JLR), the British subsidiary of the country’s largest vehicle maker Tata Motors, has attained a remarkable annual profit of over 1 billion pounds for the Financial Year 2010-11.
The company is forecast to declare a profit of 1.1 billion pounds for the year to March 31st, a large increase as compared to the profit registered of 32 million pounds last year. It is to be mentioned here that JLR had posted a loss of 281 million pounds in the initial 10 months after acquisition by Tata Motors. JLR was acquired by the Tata Motors in the last quarter of year 2008 when the world economy was struggling with recession.
The rapidly growing auto markets like India and China contributed considerably in the company’s performance, last fiscal. The luxury car maker currently employs over 17,000 persons. In the month of March 2011, Land Rover was the best selling luxury car brand in the UK market. The company also registered record sales of Land Rover vehicles in India and China during the month.
Before this, JLR’s highest profit record was in year 2007, when the company posted a gain of 300 million pounds under Ford’s regime.
