Tata Motors crashes 5%, takes Rs 5,993 cr m-cap hit post Q3

Shares of Tata Motors today fell by nearly 5 per cent after the company reported a steep 96.22 per cent decline in consolidated net profit for the December quarter.
The scrip sank 3.68 per cent to settle at Rs 486.80 on BSE. Intra-day, it tanked 7.34 per cent to Rs 468.30.
The stock was the worst performer among the 30-BSE Sensex components.
At NSE, it dived 4.60 per cent to close at Rs 482.05.
Led by the decline in the stock, the company's market valuation tumbled Rs 5,993.23 crore to Rs 1,39,932.77 crore.
On the volume front, 12.42 lakh shares of the company were traded on BSE and over 1 crore shares changed hands at NSE during the day.

Home-grown auto major Tata Motors today reported 96.22 per cent drop in consolidated net profit at Rs 111.57 crore for the December quarter, dragged down by losses in domestic operations and lower profit of its British arm JLR.

It had posted a net profit of Rs 2,952.67 crore in the same quarter of the last fiscal, Tata Motors said in a BSE filing.
The company's consolidated sales during the October- December quarter were down 2.2 per cent at Rs 67,864.95 crore as against Rs 69,398.07 crore in the year-ago period.
On a standalone basis, Tata Motors' loss after tax widened to Rs 1,046 crore in the third quarter of 2016-17, from Rs 137 crore a year ago.