Posted by: Janielle ViggianoOct. 26 (Bloomberg) -- Tata Motors Ltd., India’s largest truckmaker, reported second-quarter net income more than doubled as economic growth boosted truck sales and the introduction of the Nano car revived demand.
Profit totaled 7.29 billion rupees ($156 million) in the three months ended in September, compared with 3.47 billion rupees a year earlier, Mumbai-based Tata Motors said in a statement today. That exceeded the 4.32 billion rupee median profit estimate in a Bloomberg survey of nine analysts.
Tata Motors’ vehicle sales rose in the three months through September, the longest-winning streak in at least two years, as a decline in auto-loan rates and increased spending by the government spurred demand. Chairman Ratan Tata began selling the Nano, the world’s cheapest car, in July, helping the company avoid the worst of a global recession.
it;s great t see that the company finally released the nano after production was pushed back for so long.
ReplyDeleteNick Vanikiotis
I've been wondering about Tata Motors for a while. Good article.
ReplyDeleteLaura Reginelli