Jaguar Land Rover logs GBP1.9 billion net profit in the 2013 fiscal year

Article by Christian Andrei, on June 1, 2014

Jaguar Land Rover posted a record net profit of GBP1.9 billion in fiscal year ended March 31, 2014, compared to GBP1.2 billion in the previous fiscal year. The record profit was achieved thanks to a very strong fiscal fourth quarter, in which the carmaker saw its net profit surge to GBP449 million (EUR552 million) from GBP377 million in the previous period.

The carmaker posted an 8-percent jump in deliveries in the quarter to 124,776, boosted by strong demand. JLR, a unit of Tata Motors, also logged a 16-percent rise in global deliveries in the fiscal year to 434,311 vehicles.

Both the Jaguar and Land Rover brands saw a 34-percent rise in sales in China to 103,077 units in the fiscal year ended March 31 – more than what the carmaker sold in North America and Europe in the period.

JLR is expecting to commence operations of a new manufacturing site in China later in 2014, allowing it to cut the strain on its UK plants as well as ensuring that it could meet future growth in demand.

In comparison, Tata's operations in India succumbed to INR8.17 billion in (EUR102.6 million) in net loss in the fourth fiscal quarter, a further decline from INR3.12 billion in net loss a year ago.

Alex Mathews, head of research at Geojit BNP Paribas Financial Services, remarked that he is not expecting “any miracles” from Tata Motors’ local business unit, saying that it has already dropped a lot and will continue to underperform in the next one or two quarters.

Tata Motors said that the slump in its local business has resulted to a drop in consolidated fourth-quarter profit to INR39.2 billion in the 2013-2014, from INR39.5 billion in the period a year before.

Despite the loss-making quarter, Tata's Indian business unit still posted INR3.4 billion in fiscal-year profit while Tata Motors logged INR139.9 billion in net profit.

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

More positive news has been pouring in before the year ends. For those who have been waiting to hear the latest word on Toyota 86, we have some great news....
by - December 10, 2016
Hyundai is making the green vehicle race more competitive by offering three powertrain types -- pure electric (EV), hybrid (EV plus combustion engine) and plug-in hybrid (PHEV) – in one...
by - December 9, 2016
Although specs for the new Renault Megane had already surfaced several weeks ago, we didn’t know that the company has cooked up something new. Aside from the 200hp gasoline, Renault‘s...
by - December 9, 2016
For the first time in fifty-eight years, Infiniti registers its first US-Spec Q60 Coupe in Cuba. American products have not been allowed entry into Cuba for six decades. But it...
by - December 9, 2016
Chevrolet has already given out the pricing for some of its 2018 Equinox models. Not only will the new Equinox be available in both the US and Canada, it is...
by - December 9, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries