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...

Written by Reuters

New Delhi

Updated: February 6, 2015 00:05 IST

Tata Motors shares touched their fresh 52-week high of Rs 593.10 and was trading nearly 8 per cent up on Tuesday after the automaker secured orders worth Rs 900 crore for over 5,000 buses from various state and city transport undertakings in the first five months of FY17.

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.

This article was first uploaded on February five, twenty fifteen, at thirty-one minutes past nine in the night.