Jaguar Land Rover (JLR) is likely to report a lower EBITDA margin in the October-December quarter compared with the previous two quarters, the company said on Wednesday, due to exchange rate fluctuations and a higher mix of Evoque sales.
JLR's capital expenditure will rise to 2.75 billion pounds in the fiscal year that begins in April, up from 2 billion pounds in the current year, the company said in a statement, adding that free cash flow for 2013-14 could be negative as a result.
The British luxury brands, owned by India's Tata Motors(TAMO.NS), will report higher revenue in the quarter that ended in December than in the previous two quarters but similar EBITDA (earnings before interest, taxation, depreciation and amortisation), and will report a negative free cash flow in the period.
JLR reported EBITDA of 486 million pounds in the quarter to end-September, with an EBITDA margin of 14.8 percent.
(Reporting by Henry Foy in MUMBAI; Editing by Gopakumar Warrier)
Pru's UK staff take industrial action over Mumbai job plan
LONDON Staff at British insurer Prudential are taking industrial action over plans to move 76 jobs to Mumbai from the southern English town of Reading, the Unite union said.
Paytm parent One97 says MediaTek to invest $60 million
MUMBAI Taiwan's largest chip designer MediaTek Inc is investing $60 million in India's One97 Communications, valuing the payment services and e-commerce firm at about $5 billion, the company said on Tuesday.
Wall St. weighed by Apple but banks shine on
NEW YORK Apple Inc was the largest weight on U.S. stock indexes on Tuesday after antitrust regulators ordered the company to pay about $14.5 billion in back taxes to the Irish government, but gains in bank shares partly offset the decline.