India's top vehicle company Tata Motors said on Jan. 29 its domestic operations showed a third-quarter profit compared to a loss a year earlier as demand for cars rose, aided by new launches.
The company reported a net profit of four billion rupees (US$86 million) for the three months to December, compared with a net loss of 2.63 billion rupees a year earlier. The earnings did not include data for British luxury icons Jaguar and Land Rover, which Tata Motors bought from Ford Motor Co. for $2.3 billion in March 2008.
Tata Motors revenues jumped nearly 90% to 89.29 billion rupees for the quarter.
"Introduction of new products and strong sustained growth in the existing portfolio, along with government stimulus has driven domestic demand revival," the company said.
Tata Motors sold 165,413 vehicles including overseas sales in the quarter, a jump of 67.5% over sales of 98,760 vehicles in the same period a year earlier.
Copyright Agence France-Presse, 2010