Tata Motors has announced a net profit of Rs. 2,028.90 crore for 2007-08, which was 6 percent more as compared to last year’s Rs. 1,913.46 crore. The annual results were announced at the press conference on Wednesday in Mumbai. The conference was marked by presence of Mr. Ravi Kant, Managing Director, Mr. C. Ramakrishnan, CFO and PM Telang, Executive Director, Commercial Vehicles for Tata Motors.
Total sales volume (including exports) was reported to be 5.86 lakh units This figure is marked as the highest ever for Tata Motors till date. The company also managed to hold its top position in commercial vehicles. It also recorded its highest sales in top three in the passenger vehicles, although it lost some market share.
In the local market, commercial vehicle sales marked an increase of 4.8 percent to 3.13 lakh units while passenger vehicle reported a declined in sales by 4.5 percent to 2.18 lakh units.
Company’s sales volumes reflected a 5.3 percent decline after showing consecutive growth for past six years. The drop in profits was attributed to rise in interest rates, increased competition and high input costs.
The company has maintained the dividend at Rs. 15 per share of Rs. 10 each for 2007-08.
