Tata Motors Quarterly Results
The indigenous car manufacturer Tata Motors Limited has earned a profit of Rs 3 thousand 043 crore in the third quarter of October-December of the current financial year 2022-23. Tata Motors said revenue at Tata Group’s British unit Jaguar Land Rover (JLR) rose 28 percent to 6 billion pounds in the December quarter. Because of this, brokerages are very positive about the stock. The company reported a profit for the first time in seven quarters, driven by improved supply and rising demand for semiconductor chips.
Buy or Sell Tata Motors Shares?
If you are also looking for a strong earning opportunity from the stock market, Tata Motors share can help you. After the quarterly results, the brokerage has given a ‘Buy’ rating on the stock. According to brokerage Jefferies, “The chip shortage will gradually ease and JLR will remain profitable in the coming days.” The brokerage has priced Tata Motors shares at Rs. 565 (previously Rs. 540 target price) with ‘Buy’ rating.
The company’s income increased
The company has to bear a loss of Rs 1,451 crore for the October-December quarter of the last financial year 2021-22. According to the information given to the stock exchange this year, the company said that its total income in this quarter also reached Rs 88,489 crore. 72 thousand 229 crores in the corresponding period of the previous financial year, on a standalone basis, the company’s net profit doubled to Rs. 506 crore has been made. 176 crore in the same quarter a year ago.