Tata owned Jaguar and Land Rover are back in the green! Thanks to aggressive cost cutting and introduction of new models, JLR reported an operating profit of Rs2849 crores in the three months ended 30 September, compared with a loss of Rs2346 crores in the same quarter a year ago.
JLR sales rose by an amazing 23% to 44,300 vehicles year-on-year and sales in the UK grew by 34% to 14,400 vehicles. While North American sales dropped by 7.3%, Chinese sales increased by 2.1%. Last month, JLR secured a £175m loan from the State Bank of India after the UK government denied any aid. Jaguar also plans to close its West Midlands plant by 2015 and outsource production to an overseas site.
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