For the quarter that ended on December 31, 2022, Tata Motors reported a consolidated net profit of Rs. 2,957.71 crore, as against the Rs. 1,516.14 crore loss the company registered during the same October-December period in FY2022.
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Tata Motors Limited is an Indian multinational automotive manufacturing company headquartered in Mumbai, Maharashtra, India. It is a subsidiary of the Tata Group, one of India's largest conglomerates. Tata Motors is India's largest automobile company, with consolidated revenues of INR 2,32,834 crores ($ 33.6 billion) in 2020-2021.
Jaguar Land Rover (JLR) is a British multinational automotive company headquartered in Coventry, United Kingdom, and a subsidiary of Tata Motors. JLR designs, develops, and manufactures luxury vehicles under the Jaguar and Land Rover marques. The company was founded in 1922 as Swallow Sidecar Company and was later renamed Jaguar Cars in 1945. Land Rover was acquired by JLR in 2000.
Tata Motors acquired JLR from Ford Motor Company in 2008 for $ 2.3 billion. Since then, JLR has become a major contributor to Tata Motors' revenue, with the company accounting for a significant portion of the parent company's overall revenue and profits. JLR has been facing several challenges and continues to be affected by the global economic downturn and the Brexit uncertainty. In 2019, Tata Motors announced that it will focus on cost reduction and efficiency measures to improve the performance of JLR.
JLR's global sales have been affected by declining demand for diesel vehicles, a shift in consumer preferences towards SUVs, and a slowdown in the Chinese market. Despite these challenges, JLR continues to launch new models and invest in research and development to remain competitive in the luxury vehicle market.
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