TTM Tata Motors Ltd

By Adria Calatayud

British car maker Jaguar Land Rover said Friday that it swung to a pretax profit for the second quarter of fiscal 2020 thanks to lower costs as well as rising sales at a higher margin.

The company, which is owned by India's Tata Motors Ltd. (500570.BY), made a pretax profit of 156 million pounds ($200.9 million) for the three months to Sept. 30 compared with a loss of GBP90 million in the year-earlier period.

Quarterly revenue rose 8% to GBP6.1 billion, JLR said. Its earnings before interest and taxes margin was 4.8% for the quarter.

The company said its transformation program is on track to achieve efficiencies of GBP2.5 billion by March 31, 2020, having delivered savings of GBP2.2 billion to date.

For fiscal 2020 as a whole, JLR said it continues to expect a year-on-year improvement and to target a 3-4% earnings before interest and taxes margin with cash flow increased over last year.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

October 25, 2019 09:21 ET (13:21 GMT)

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