Shares of Tata Motors today fell by 4 per cent even as the automaker reported a three-fold spike in net profit for the September quarter. The stock lost 4.01 per cent to settle at Rs 422.65 on BSE. During the day, it went down by 4.57 per cent to Rs 420.15. The scrip was the worst hit among the 30 Sensex components. At NSE, shares of the company dipped 3.99 per cent to close at Rs 422.55. The company's market valuation also declined by Rs 5,095.22 crore to Rs 1,22,033.78 crore. In terms of equity volume, 24.15 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day. Tata Motors reported a three-fold spike in group net at Rs 2,502 crore for the September quarter, driven by a one-time excise gain of around Rs 535 crore, cost-reductions at the planning and strategic levels and better margins and volumes at its British arm JLR. Group revenue inched up 10 per cent to Rs 70,156 crore, while net income surged 195 per cent from Rs 848 crore a year ago, the company said yesterday. However, on a standalone basis Tata Motors still remained in the red but with hugely narrowed losses.
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