Jaguar Land Rover, which produces the famous Ranger Rover and the best-selling Defender SUV, accounts for over 60 per cent of Tait Motors' consolidated revenues.

The company's revenue from operations increased 13 percent to Rs 1,19,986.3 crore in the quarter under review, from Rs 105,932.35 crore a year ago.

The direct board of directors of Tata Motors recommended a final dividend of Rs 6.20 per ordinary share and Rs 6.20 per 'A' ordinary share for the financial year ending March 31, 2024.

PB Balaji, Group Chief Financial Officer, Tata Motors, said: “It is a pleasure to report the FY2014 results, during which the Tata Motors Group delivered its highest ever revenues, profits and free cash flow.

“India's business is now debt-free, and we are on track to become automotive debt-free on a consolidated basis in FY2015. The businesses are executing well on their specific strategies and hence, we are confident of maintaining this strong performance in the coming years.