Jaguar Land Rover made a pretax profit during the latest quarter as its dealerships resumed business after most were closed during the coronavirus outbreak.
The company posted a profit of 65 million pounds ($85 million) before tax for the quarter ended Sept. 30 on revenue of 4.4 billion pounds ($5.7 billion), JLR said in a statement Tuesday.
The profit was up significantly from a loss of 413 million pounds in the previous quarter but lower than the pre-COVID-19 profit of 156 million pounds in the same quarter a year ago, the automaker said.
Global retail sales of 113,569 units were up 53 percent from the previous quarter, with almost all of the company's global dealerships now open, JLR said. But sales were down 12 percent compared with the same quarter a year ago as most markets continued to be affected by the pandemic.
China retail sales were up 15 percent over the prior quarter and 3.7 percent year-on-year, JLR said.
Sales of the the new Land Rover Defender rose to 4,508 units in September.
JLR's new CEO, Thierry Bollore, said in the statement: "Although Jaguar Land Rover is not immune to the headwinds impacting the global automotive industry, it has the foundations in place to generate long-term sustainable profitability."
Bollore, former CEO of Renault, took up the JLR post on Sept. 1.
Parent company Tata Motors reported a consolidated net loss of 3.14 billion rupees ($42.5 million) for the quarter, compared with a loss of 2.17 billion rupees a year earlier. The company suffered as India's economy remained shut for months following the coronavirus outbreak.
JLR accounts for most of Tata Motors' revenue.
"Despite concerns around the risk of a second wave of (COVID-19) infections we expect a gradual recovery of demand and supply in the coming months," Tata Motors said.
Tata Motors said it was committed to achieving near-zero net automotive debt in the coming years.
Reuters and Bloomberg contributed to this report