Tata Engineering & Locomotive Company has reported a 258 per cent increase in net profit at Rs 100.31 crore (Rs 1.003 billion) for the quarter ended June 30, 2003 as against Rs 28.03 crore (Rs 280.3 million) in Q1 FY03.

Total income, net of excise duty, increased 43 per cent to Rs 2,511.41 crore (Rs 25.114 billion) from Rs 1,754.67 crore (Rs 17.546 billion) in the corresponding period of the last fiscal, according to a release issued to the Bombay Stock Exchange on Monday.

Sales of passenger vehicles moved up to 30,118 as against 17,556 sold in the corresponding period last year resulting in a market share of 15.50 per cent, the release added.

The stock has slipped a per cent to Rs 223 on the BSE at 1430 hours.