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Tata Motors zooms on robust Q4 earnings

Tata Motors logos are pictured outside their flagship showroom in Mumbai Tata Motors logos are pictured outside their flagship showroom in Mumbai Shares of Tata Motors zoomed over 8% to Rs 455 in early morning trade on the Bombay Stock Exchange after the auto major reported robust earnings for the quarter ended March 31, 2016.

For the March 2016 quarter consolidated profit after tax surged over 200% to Rs 5,177 crore against Rs 1,717 crore in the corresponding quarter last fiscal.

Consolidated revenues (net of excise) rose 19% to Rs 80,684 crore compared with Rs 67,778 crore in the quarter ended March 31, 2015.

The growth was driven by robust Jaguar Land Rover global sales in addition to volume growth in the Medium/Heavy Commerical Vehicle segment and uptick of volume growth in the Light Commercial Vehicle segment, the company said in a release.

The stock opened at Rs 456 and touched a high of Rs 464. At 9:23am, over 5 million shares were traded on both the stock exchanges.