JLR boosts Tata profits

Tata Motors has witnessed its profits sky rocket as demand from customers for its Jaguar and Land Rover brands increased.

India’s largest vehicle manufacturer made 22.2bn rupees ($505m; £310m) in the 3 months to the end of September – a virtual 100-fold increase on 2009.

Sales in India climbed by 35% in the quarter, but it encountered a great deal larger growth in China and Russia.

The firm also manufactures the world’s lowest priced small car, the Tata Nano of which, it has been reported, 70,000 have been sold since its launch in March last year.

“We have to break new ground in how we market it and how we make financing accessible,” chief executive Carl-Peter Forster said.

Last month Tata reversed a decision to close one of its Jaguar Land Rover manufacturing plants in the UK because of the pick-up in sales and is also planning to hire new workers in Britain to deal with the surge in demand.