Tata Motors consolidated net profit down 36 percent

Mumbai, May 29 (IANS) Automobile giant Tata Motors Wednesday reported a decrease of 36.71 percent in its consolidated net profit for the fourth quarter of the last fiscal which stood at Rs.3,945.47 crore (over $700 million) from Rs.6,234 crore in the corresponding quarter of 2011-12.

However, the company’s consolidated income for the quarter under review rose by 10 percent at Rs.56,001.64 crore from Rs.50,907.90 crore in the fourth quarter of 2011-12.

In another development the company’s board recommended a dividend of Rs.2 per ordinary share and Rs 2.10 per ‘A’ ordinary share. The company had give a dividend of Rs.4 per ordinary share and Rs.4.10 per ‘A’ ordinary share in 2011-12.

The company’s scrip at the Bombay Stock Exchange (BSE) closed the day’s trade up 7.95 points or 2.69 percent at Rs.303.80 from its previous close of Rs.295.86 Tuesday.

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