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Tata Motors' Q4 profit slumps 47% to Rs 1,117 crore as JLR sales hit

Revenue from wholly owned subsidiary Jaguar Land Rover Automotive PLC fell 5% to Rs 65,146 billion

Brokerages slashed price targets on Tata Motors after the company reported biggest loss in India’s corporate history. The consensus 12-month price target for the stock is down to Rs 215 from Rs 252 earlier this month. Some brokerages have cut the tar

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Reuters Bengaluru

1 min read Last Updated : May 20 2019 | 4:58 PM IST

Tata Motors Ltd reported a 47% drop in quarterly profit on Monday as the Indian automaker struggled to sell its luxury Jaguar Land Rover (JLR) cars in key markets like China, and was also hit by a broader economic slowdown at home.

India's biggest automaker by revenue earned Rs 1,117.48 crore ($160.26 million) in net profit for the three months ended March 31, its fourth quarter, versus Rs 2,125.24 crore a year earlier when it took in a one-off charge of Rs 1,641 crore.

Revenue from wholly owned subsidiary Jaguar Land Rover Automotive PLC fell 5 per cent to Rs 65,146 billion. The unit brings in most of Tata's revenue.