Tata Motors net profit shrinks 50.7 percent

July 27th, 2009 MUMBAI - Auto major Tata Motors Monday reported 57.5 percent surge in its net profit at Rs.513.7 crore (Rs.107 million) for the quarter ended June 30, as compared to Rs.326.11 crore in the like period last fiscal. Total income, however, decreased 7 percent to Rs.6,723.9 crore from Rs.7,244 crore, the company said in a regulatory statement.

July 14th, 2009 HYDERABAD - Tata Motors on Tuesday rolled out the first commercial consignment of Nano, regarded as the World's cheapest car to be showcased at Hyderabad on Tuesday. "The first consignment has come to Hyderabad.

June 28th, 2009 MUMBAI - Tata Motors, one of India's top automobile manufacturers, launched its Jaguar, Land Rover brands in India on Sunday. Addressing a press conference here on the occasion, Ratan Tata, the chairman of the Tata Group, said: "It's quite a memorable day in the history and heritage of Tata Motors...JLR has been well received and well established in India (in the past), but over the years this brand has been disconnected from India." "I think, the cars will exhibit the levels of technology and levels of performance here.

June 28th, 2009 MUMBAI - Nearly 16 months after acquiring the iconic Jaguar and Land Rover brands, Tata Motors formally launched the luxury cars in India here Sunday. Tata Motors chairman Ratan Tata said initially, three Jaguar and two Land Rover models would be available in the country.

June 27th, 2009 LONDON - Tata Motors has said that more UK job cuts are likely at Jaguar Land Rover, which sent India's largest carmaker to a thumping loss for the year. Tata Motors vice-chairman Ravi Kant said JLR global sales for the 10 months to March fell by 32 percent to 167,000 vehicles from 246,000 the previous year.

June 26th, 2009 MUMBAI - Leading vehicle maker Tata Motors has posted a huge loss of Rs.2,505.25 crore ($520 million) in 2008-09 as against a profit of Rs.2,167.7 crore recorded the year before, thanks to the global slowdown and losses made by its British unit. Its turnover, however, almost doubled to Rs.70,938.85 crore last year from Rs.35,660.07 crore in 2007-08, the company said in a statement.

June 23rd, 2009 MUMBAI - Tata Motors on Tuesday announced the first 1,00,000 lucky buyers of the popular small segment car 'Nano', and said that the names have been selected through a random computerised process. "Tata Motors once again places on record its gratitude to the people of India for according such a warm welcome to the Tata Nano, as also to all its preferred financiers, dealers and partner companies for their stupendous effort in helping the company launch the Tata Nano," a statement released by the company said.

June 15th, 2009 CHENNAI - Tata Motors has entered into an understanding with Bank of India for financing Fiat cars that are sold through the Tata-Fiat dealer network, the auto major said Monday. As per the agreement, customers can avail of special interest rates ranging from 9.75 percent to 10.25 percent on loans up to Rs.10 lakh for all Fiat models, including the forthcoming Grande Punto, Tata Motors said in a statement.

May 30th, 2009 MUMBAI - Tata Motors Ltd, India's automobile major reported a smaller-than-expected 50.7 percent drop in the annual profit while sales picked up in the March quarter and raw material prices fell. This was disclosed by C Ramakrishnan, Chief Financial Officer of Tata Motors, at a press conference here on Friday.

May 29th, 2009 MUMBAI - Auto major Tata Motors has appointed Prakash M. Telang as its managing director, while the incumbent Ravi Kant will continue as non-executive vice chairman, the company said Friday.

May 4th, 2009 Tata sells 203,000 Nanos, makes $512 millionMUMBAI, India — More than 203,000 people have bought the ultra-cheap Nano car in India yielding sales of 25 billion rupees ($512.6 million), Tata Motors said. "Tata Motors places on record its gratitude to the people of India for according such a warm welcome to the Tata Nano," the company said in a statement Monday night.

March 23rd, 2009 MUMBAI - Ahead of the launch of the world's cheapest car Nano, the Tata Motors scrip shot up over eight percent in Monday morning trade. The commercial roll-out of the small car will take place around 4.30 p.m.

February 26th, 2009 KOLKATA - Global auto major Tata Motors Thursday announced that the much-awaited Tata Nano will be launched in Mumbai March 23. Tata Nano is world's cheapest car priced at around Rs.100,000.

February 22nd, 2009 NEW DELHI - Tata Motors chairman Ratan Tata was named Saturday 'The Automotive Man of the Year 2009', an award sponsored by news channel NDTV Profit to honour industrialists in the auto sector. Speaking of his selection for the honour, Tata said: 'This is a tremendous boost to my morale.' 'I hope we can sustain ourselves through this difficult period and thereafter, looking back, people could say an Indian group nurtured the British brand,' he said with reference to Tata Motors' acquisition of British luxury car brands Jaguar and Land Rover.

January 28th, 2009 NEW DELHI - Auto major Tata Motors has bagged a contract worth Rs.22 billion (Rs.2,200 crore) from the Delhi Transport Corp (DTC) to supply 1,625 low-floor buses and maintain them for 12 years, the company announced Thursday. The contract comprises about Rs.9 billion for the supply of buses and Rs.13 billion for their 12-year maintenance, Tata Motors said in a statement.