Tata Motors Q1 net nearly halves on weak China sales at Rs 2,769 cr

Quarterly profit at Tata Motors Ltd , India's top automaker by revenue, fell for the fourth consecutive quarter, as sales of its sleek Jaguar saloons and sporty Range Rovers dipped in China, the world's biggest car market.

The economy in China, an important market for Tata Motors' luxury arm Jaguar Land Rover, has slowed to its slackest pace in 25 years and low consumer confidence is affecting car sales in the country.

Tata Motors said net profit for the April-June quarter fell 49 percent to Rs 2,769 crore from Rs 5,398 crore in the same period a year ago.

Net sales fell 6% to Rs 60,180 crore.