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One-off gain embellishes Tata Motors' first quarter profits

Reuters 

REUTERS - Tata Motors Ltd reported a 42 percent rise in quarterly profit thanks to a one-off gain related to changes to Jaguar Land Rover's pension plans, masking a fall in the carmaker's income.The company said its total income fell about 10 percent to 599.72 billion Indian rupees ($9.4 bln) in April-June, as its operating performance was hit by lower wholesale volume sales of Jaguar Land Rover, excluding sales from the group's China joint venture, and a slowdown in its heavy vehicle business, among other factors."... the first quarter results have not met our expectations," Tata Motors ...

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First Published: Wed, August 09 2017. 18:02 IST
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