JLR Owner Beats Profit Estimates on Strong Sales, Tax Gain
- JLR is trying to cut an order backlog caused by chip crisis
- Parent Tata Motors also saw strong demand for SUVs in India
This article is for subscribers only.
Strong sales of Jaguar Land Rover Automotive Plc’s luxury SUVs helped the British carmaker’s Indian parent beat profit estimates.
JLR, which makes up more than two-thirds of parent company Tata Motors Ltd.’s revenue, saw pre-tax profit soar 80% to £661 million ($828 million) in the fourth quarter after generating record quarterly revenue of £7.9 billion, it said Friday.