One-offs dent Tata Motors Q3 performance

Analysts expect volumes and operating profit margin to pick up for JLR and India unit both

Tata Motors gave a disappointing performance for December quarter (Q3) as lower volumes, lower realisations from sales, and higher costs saw consolidated net profit falling to Rs 112 crore from Rs 2,953 crore a year ago. Volumes were lower at UK-based subsidiary Jaguar Land Rover and Indian unit. JLR wholesale volumes were down five per cent as they ran out of units made in 2016 due to preparations for Discovery launch in Q4FY17. Retail demand for JLR products continues to be strong on higher orders from China, North America, and Europe, led by Discovery Sport, F-Pace, and Jaguar XFL models.