JLR's growth in overseas markets—it sells imports in India and recently began assembling some Land Rover models there—has helped insulate Tata from a sluggish domestic car market which grew just 2.2 per cent in the last fiscal year.
The British luxury brands, which Tata bought for $2.3 billion in 2008, brought in over 95 per cent of the car maker's profit in the quarter to March 31, as new models and increased focus on markets such as Russia and China swelled sales by 48 per cent.
Tata, part of the software-to-hotels Tata group, India's largest business house by revenue, said net profit for the quarter to end-March was Rs 6,250 crore , up from Rs 2,620 crore, helped by £217 million in deferred tax assets.
Consolidated net profit, after accounting for minority interest and share of associates, was at Rs 6,230 crore.
Consolidated revenue rose 44 per cent to Rs 50,900 crore, compared with Rs 35,300 crore a year ago.
India's biggest truck manufacturer and the maker of the Nano, dubbed the world's cheapest car, Tata sparked fears it had bitten off more than it could chew when it bought the loss-making JLR brands from Ford Motor with minimal experience in international manufacturing and luxury products.
The acquisition has fast overshadowed its parent.
Boosted by runaway demand for the Range Rover Evoque compact SUV launched last year, JLR's revenue grew 51.5 per cent to £9.87 billion in the quarter to March.
The unit reported an operating profit of 14.6 per cent in the quarter, against 9.5 per cent for the domestic business.
Sales in China in the fiscal year to end-March accounted for 17.3 per cent of JLR's global sales, almost as much as the UK, its home market, which accounted for 19.1 per cent of sales.
Copyright: Thomson Reuters 2012