Tata Motors Passenger Vehicles Ltd.

India's largest bus and truck maker Tata Motors’ subsidiary - Tata Motors Finance is planning to raise around Rs 3 crore ($67 million) through an issue of long-term bonds.

Recently, Tata Motors received an order from Surat-based Siddhivinayak Logistics (SVLL) worth an estimated Rs 150 crore to supply 1,111 medium and heavy trucks in a year. Tata Motors global sales in May increased by 11 percent to 88,251 units driven mainly by commercial vehicles and Land Rover. Sales of luxury brands from Jaguar Land Rover were at 22,296 units during May, up 17 percent from the same month last year.

The company’s net profit for the year ended March 31, 2011 has dropped by 19.11% to Rs 1811.82 crore as compared to Rs 2240.08 crore for the year ended March 31, 2010. Its total income has increased by 28.78% to Rs 48223.72 crore for the year from Rs 37446.50 crore for the previous year.

On the Consolidated basis, the Group’s net profit for the year ended March 31, 2011 has zoomed by 260.69% at Rs 9273.62 crore as compared to Rs 2571.06 crore for the previous year. Its total income has increased by 30.65% from Rs 94312.37 crore a year ago to Rs 123222.91 crore for the year.