Jaguar Land Rover (JLR), the luxury auto arm of Tata Motors, reported a 57% YoY increase in Q1 revenue to £6.9bn and a profit before taxes of £435m. The company s Q1 free cash flow reached a record high of £451m and its cash on hand increased to £4bn.
Tata Motors JLR: JLR will report its full financial results for the first quarter later in July. Based on preliminary cash balances, the luxury carmaker expects to report positive free cash flow of over GBP 400 million in the quarter. Meanwhile, Tata Motors has informed the exchanges that it will announce its first quarter results on July 25.
Tata Motors shares: Motilal Oswal Securities said the stock trades at 16.9 times its estimated FY24 consolidated EPS and 13.7 times its estimated FY25 consolidated EPS. The brokerage has a 'Buy' rating on the stock with a target of Rs 525.
The company said that wholesale volumes for the March quarter stood at 94,649 units (excluding the Chery Jaguar Land Rover China joint venture), up 24% compared to corresponding quarter last fiscal