Tata Motors third quarter ended on December 2010 recorded a net profit of Rs 650 crore but quarterly consolidated profits has nearly increased fourfold to Rs 2,424 crore. The increase in the profit is due to improved performance of its UK unit, Jaguar Land Rover.

The company’s shares rose 3.8% and closes at Rs 1,145 on the BSE. After the close of trading hours, the company has released its financial figures.

The company has managed to sell more vehicles within and outside India, which has increased its consolidated revenue by 22% to Rs 31,685 crore over Rs 25,974 crore in the October to December period of FY10.

While it’s, operating profit (EBITDA) was Rs 4,822 crore in the quarter as compared to Rs 3,057 crore in the same quarter last year, keeping EBITDA margins rest at 15.2% compared to 11.8% in the same quarter a year ago.

Tata Motors credited its improved financial performance to strong volume growth across trucks, buses and cars and favorable macro economic conditions. JLR business has performed outstandingly, and recorded a profit after tax of pounds 275 million during the third quarter of 2010-11.