Iconic British car brand Jaguar Land Rover has made a strong contribution to a big rise in profits and revenues for its Indian owner Tata, the latter’s half year results reveal.
JLR’s profit after tax for the second quarter in Tata’s current financial year was £238m – a healthy contribution to an overall £3.1bn consolidated profit. This compares to profits for the group of just £30m in the same quarter in 2009.
Tata’s revenues for the period were £17.4bn – an increase of 36.5 per cent, year-on-year.
Tata said JLR’s wholesale and retail sales “improved favourably” compared with the same period last year. In the UK, it has had mixed fortunes. According to data from the Society of Motor manufacturers and Traders, as of October, registrations of new Land Rovers were up 32 per cent to 32,600 units. However, registrations of Jaguars are down 8.6 per cent to 14,000.
As India’s biggest conglomerate, Tata’s stable includes steel, power, hotels, finance, consultancy and telecommunications companies, as well as cars.