Tata Motors remained in the attention of international media because of its acquisition of Jaguar and Land Rovers. The company has given a lot of efforts to buy these two brands. You know that Tata Motors is also going to bring the cheapest car in the world in the market within this year. So, officials of Tata Motors are very busy these days. Well, net profit for the last financial year fell a bit.
AFP reported:
The company, part of the steel-to-tea Tata Group conglomerate, reported net profit fell to 21.67 billion rupees (509 million dollars) for the year ending March 2008 from 21.69 billion rupees a year earlier.
The profit decline was due to higher input costs amid soaring global steel prices. Profit was also hit by rising interest rates which hurt domestic demand.
Total income rose 10.4 percent to 359.18 billion rupees for the year as Tata Motors sold 585,649 units for the full year, including exports, the highest ever for the company, up from 580,280 units last year.
This is not good news for the investors. Well, the next one year is going to be critical for the company. Tata Nano is going to come to the market soon. Many observers are waiting for this car to come. I am also curious to know whether Tata Motors can make healthy profit from the cheapest car in the world.
I know about Tata Nano. Yes, i am excited to be the owner of a car. And i know becaue of Tata Nano many middle class people can be able to afford car. When Tata Nano will come in the market?
Posted by: kamrul hasan | June 7, 2008 9:33 AM | Permalink to Comment