Corrected - Tata Motors net more than triples on strong sales

NEW DELHI (Reuters) - (Corrects year-ago net profit figure to 17.26 billion rupees, from 17.68 billion, in second paragraph)

Tata Motors Ltd , India's biggest automaker by revenue, on Monday beat forecasts as first-quarter net profit more than tripled on strong sales of its luxury Jaguar and Land Rover vehicles that continued to offset a drop in domestic sales.

Tata Motors, part of the $100 billion Tata conglomerate, said consolidated net profit for the April-June quarter rose to 53.98 billion Indian rupees ($882.31 million) compared with 17.26 billion rupees a year ago.

Analysts had expected an average profit of 37.1 billion rupees, according to Thomson Reuters I/B/E/S.

 

Consolidated revenue grew 38.2 percent to 646.83 billion rupees.

($1 = 61.1800 Indian rupee)

(Reporting by Aditi Shah; Editing by Miral Fahmy)