Tata Motors profit in Q3 dives 96% as JLR loses steam

Losses from domestic business increases almost eight-fold

Tata Motors, the country’s largest automobile company by revenue, has seen its consolidated net profit shrink by 96 per cent in the third quarter on a steep decline in profit at its overseas unit Jaguar Land Rover (JLR) and higher losses in domestic operations.

With consolidated net profits of just Rs 111.57 crore, the October-December quarter has been the worst for the company this financial year.

The decline is higher than what was expected. Polls of analysts had suggested that the fall will be in the range of 25-35 per cent. The company had reported consolidated profits of Rs 2,953