NEW DELHI (Reuters) - Tata Motors Ltd on Thursday said quarterly net profit for the December quarter fell 2 percent, hit by lower sales of its luxury Jaguar Land Rover unit in China, once its fastest growing market.
India's biggest automaker beat analyst expectations, helped by strong sales of its Jaguar saloons and sporty Range Rover vehicles in Europe and North America that partly offset the slowdown in China.
Tata Motors said net profit for the fiscal third quarter ended Dec. 31 was 35.08 billion rupees ($514.28 million), down from 35.81 billion rupees in the year-ago period.
Analysts on average had expected Tata to report a net profit of 27.61 billion rupees, according to Thomson Reuters data.
Net sales during the quarter rose 4 percent to 716.86 billion rupees.
($1=68.2125 Indian rupees)
(Reporting by Aditi Shah; Editing by Clarence Fernandez)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app