Tata Motors stock declines over 4% after fall in sales number in July

New Delhi: Shares of Tata Motors declined more than 4 per cent on Friday after the auto major reported an 11 per cent on-year fall in total sales in July.

The stock of the Mumbai-based company plunged 4.32 per cent to end at Rs 1,095 apiece on the National Stock Exchange (NSE).

On the BSE, scrip of Tata Motors declined 4.17 per cent to close at Rs 1,096.90 per piece.

In terms of volume, 2.19 crore equity shares were traded on the NSE and 20.16 lakh shares exchanged hands on the BSE during the day.

The 30-share BSE Sensex plunged 885.60 points or 1.08 per cent to close at 80,981.95 while the broader Nifty of NSE slipped 293.20 points or 1.17 per cent to end at 24,717.70.

On Thursday, Tata Motors reported an 11 per cent year-on-year dip in total sales at 71,996 units in July.

The company had sold 80,633 units in July 2023. Its total domestic sales dipped 11 per cent and stood at 70,161 units last month as against 78,844 units in the year-ago period.

The auto major said its consolidated net profit increased 74 per cent to Rs 5,566 crore in the June 2024 quarter, aided by robust performance by Jaguar Land Rover as well as domestic business.

It had posted a net profit of Rs 3,203 crore in the April-June quarter of last fiscal.

The company's total income increased to Rs 1,09,623 crore for the period under review against Rs 1,03,597 crore in the June quarter in FY24.