Mumbai (Agencies): Tata Motors on Friday announced 2.46 per cent increase in its net profit at Rs 410-crore in the third quarter ended December. It also stated to ramp-up the production of its small car, the Nano, from next fiscal. Net sales of the company during the October-December quarter were Rs 11,458.95 crore, as against Rs 8,923.99 crore in the corresponding period last fiscal.

The consumption of raw materials and components costs in Q3 were up at Rs 6,498.97 crore, as against Rs 4,975.29-crore. Vehicle sales were up at 1,94,085 units in Q3, as against 1,65,413 units in the same period last fiscal.

Both wholesale and retail volumes improved favourably as compared to the corresponding quarter last year, on the back
of improved market conditions and good response to the product portfolio, the company said.

However, Tata Daewoo Commercial Vehicles Co. Ltd reported a loss of Rs 4.4 crore in Q3 on account of lower volumes and
cost pressures.

Tata Motors Finance Ltd, the company's captive financing subsidiary, reported a net profit of Rs 33 crore during the
quarter.

Tata Motors Chief Financial Officer C Ramakrishnan, said that its small car's (Nano) production is expected to reach 12,000-15,000 units per month from April against about 10,000 units now. He adding that the sale of the Nano pan-India and financing tie-ups, coupled with new marketing strategies such as an extended warranty are expected to perk-up demand for the small car.

The Jaguar Land Rover business continued to show strong profitability, with healthy volumes in Q3 reporting a PAT of Rs 1,958-crore. The company plans to invest euro 1 billion in Jaguar Land Rover and product development, besides earmarking an outlay of Rs 2,500-3,000-crore for the domestic market, Ramakrishnan said.

On the company's joint venture with Fiat, Ramakrishnan denied that there was any move to call-off the collaboration. Instead it is being strengthened, he said.

Meanwhile, the company said it is planning to soon start production at its light-truck factory at Dharwad in Karnataka.