"Strong revival of the Indian operations, which reported operating profit of INR 10.7bn for the second quarter of 2009-10, coupled with operating profit at the Jaguar Land Rover business, have aided the company's consolidated performance," the Indian carmaker said in a release quoted by just-auto.com
The British unit managed to post an operating profit of 41.29 million pounds, a feat backed by an unexpected 23 percent growth of wholesale volumes over the previous quarter and the extensive cost reductions applied by JLR.
"The business is witnessing some stability in the external environment with certain key markets showing signs of recovery. The new products launched by the business in the current year... continue to receive strong market reception," Tata said.
For the half of the year, Tata reported consolidated gross revenues of INR388bn, lower than the NR394bn posted for the same period of 2008, but the two results are not comparable due to the fact that Tata acquired JLR in June 2008.
JLR announced back in August t has managed to gather private sector funding, to allow it to continue short-term operations. JLR turned to the private sector after seeing itself faced with a bad deal with the UK government.
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