Tata Motors Q4 beats estimates, automaker reports consolidated net profit of Rs 5408 crore

Tata Motors Group, the Mumbai-based multinational automotive manufacturing company, announced a net profit of INR 5420 crore ($721.5m) for Q4 2022, a rise of INR 6435 crore ($858.7m) YoY, driven by a strong operational performance at Jaguar Land Rover and its India business. Net revenue also rose to INR 1,05,932 crore, a YoY increase of 35%. The company has also outlined a capex of INR 38,000 crore, which includes INR 8000 crore for India business, for FY24.