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Tata Motors drops after decline in revenue in Q1

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lost 4.16% to Rs 399.40 at 9:18 on after consolidated net profit rose 41.59% to Rs 3200 crore on 9.92% drop in to Rs 58651 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 9 August 2017.

Meanwhile, the S&P Sensex was down 106.90 points or 0.34% at 31,690.94.

On the BSE, 1.26 lakh shares were traded on the counter so far as against the average daily volumes of 18.52 lakh shares in the past one quarter. The stock had hit a high of Rs 404 so far during the day. The stock hit a low of Rs 395.40 so far during the day, which is a 52-week low. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016.

The stock had underperformed the market over the past one month till 9 August 2017, sliding 4.59% compared with the Sensex's 1.39% rise.

The stock had also underperformed the market over the past one quarter, declining 2.33% as against the Sensex's 6.23% rise. The scrip had also underperformed the market over the past one year, sliding 18.87% as against the Sensex's 13.22% rise.

The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

Tata Motors' consolidated was lower due to translation impact from Pound to Rupee. Also, PAT in Q1 June 2017 was boosted by a one-time gain of Rs 3609 crore relating to the changes made to the Jaguar Land Rover (JLR) pension plans.

The operating performance broadly reflects lower wholesale volumes for JLR business excluding the China joint venture, and continuation of higher competitive incentive levels and launch and growth costs seen in FY 2017.

In standalone business, a significant de-growth in the medium & heavy commercial vehicles (M&HCV) segment, flat light commercial vehicles (LCV) segment and moderate growth in passenger vehicle segment was seen.

is a market leader in commercial vehicles in India. The company's British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, August 10 2017. 09:18 IST