1. Tata Motors Q3 profit down 26 pct, misses estimates

Tata Motors Q3 profit down 26 pct, misses estimates

Tata Motors Ltd, India's biggest automaker by revenue, posted a 25.5 percent fall in quarterly net profit...

By: | New Delhi | Updated: February 6, 2015 12:05 AM
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Tata Motors, part of the 0 billion Tata conglomerate, said that the consolidated net profit in the quarter ended Dec. 31 fell to 35.81 billion rupees (9.91 million) compared with 48.05 billion rupees a year ago. (PTI)

Tata Motors Ltd, India’s biggest automaker by revenue, posted a 25.5 percent fall in quarterly net profit, missing analyst estimates, weighed down by losses in its India business as vehicle sales fell.

Tata Motors, part of the $100 billion Tata conglomerate, said on Thursday consolidated net profit in the quarter ended Dec. 31 fell to 35.81 billion rupees ($579.91 million) compared with 48.05 billion rupees a year ago.

Analysts had expected, on average, profit of 49.24 billion rupees, according to Thomson Reuters I/B/E/S.

Consolidated sales rose 9.6 percent to 699.42 billion rupees.

 

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