Tata Motors Q4 net profit halves to Rs 21.76 billion on one-off charge

Tata Motors’ profits for the March quarter halved, as higher expenses and a one-time impairment charge singed earnings, the Tata group flagship said on Wednesday.

For the three months to March, net profit fell to Rs 21.76 billion — way below Street estimates. A Bloomberg poll of 16 analysts estimated a net profit of Rs 37.48 billion on net sales of Rs 881.96 billion. The carmaker reported a net profit of Rs 43.36 billion in the same quarter a year earlier.

The consolidated income from operations at the firm rose to Rs 912.79 billion over Rs 787.46 billion in the year-ago quarter.