Tata Motors has today announced a more than three-fold growth in profits for the year ended March 31, largely thanks to a turnaround in the performance of its Jaguar and Land Rover brands.
Higher volumes of exports to China and emerging markets and increased sales in the domestic market also contributed to increased revenues, the company said.
Net profits jumped to 92.74 billion rupees (£1.3bn) for 2010-11, from 25.71 billion rupees (£348 million) the previous year, the company's chief financial officer, C Ramakrishnan.
Sales were up 33.66% per cent for the same period.
Jaguar Land Rover was loss-making when Tata Motors acquired it from Ford Motor Company in 2008. It has contributed now to more than two-thirds of the net profit.
Jaguar Land Rover recorded net profits of £1.043m in 2010-11.
This was due to improved market conditions, strong growth in China, a good response to new models and a favourable exchange rate, it said.
Tata Motors' sales volumes for 2010-11, including Jaguar Land Rover, grew 24.2 per cent compared to the previous year.