Tata Motor’s Profit Grew 590% in Q4 With The New Nexon EV Max Launch

On May 12, 2023, Tata Motors on a consolidated basis, reported a net profit of Rs 5,404.79 crore, a rise of 591.65% for Q4FY23 as compared to a net loss of Rs 1,099.32 crore for the same quarter in the previous year. The net sale of the company increased by 34.88% to Rs 1,05,016.70 crore for Q4 as compared to Rs 77,857.16 crore in the same quarter last year.    

For the year ended March 31, 2023, the company has reported a net profit of Rs 2,353.49 crore as compared to a net loss of Rs 11,234.70 crore for the previous year. Net sales of the company increased by 23.13% at Rs 3,42,874.59 crore for the year under review as compared to Rs 2,78,453.62 crore for the year ended March 31, 2022.  

In addition to this, Tata Motors has launched an extension to its best selling EV in the personal mobility segment, the new Nexon EV MAX, at an attractive starting price of NPR 46.49 lakh for a 7.2 kW charging option in Nepal. With this launch, Tata Motors is taking the lead to enhance the appeal of EVs and expand the market with a new offering for customers who are looking for longer intercity travel.  

The new Nexon EV MAX powered by the high voltage state-of-the-art Ziptron technology will come in 3 exciting colors – Intensi -Teal (exclusive to the Nexon EV MAX), Daytona Grey and Pristine White. Dual tone body color will be offered as a standard. Equipped with a 40.5 kWh Lithium-ion battery pack, the Nexon EV MAX offers 33% higher battery capacity, delivering an anxiety-free ARAI-certified range of 453 km (under standard testing conditions), which ensures uninterrupted inter-city travel.  

Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. 

Tata Motors is currently trading at Rs 533.50, up by 17.85 points or 3.46% from its previous closing of Rs 515.65 on the BSE.  

The scrip opened at Rs 525 and has touched a high and low of Rs 537.15 and Rs 521.40 respectively. So far 6,29.299 shares were traded on the counter.