Tata Motors shares fall as Q3 earnings drop

MUMBAI (Reuters) - Tata Motors shares fell as much as 3.1 percent a day after its October-December earnings fell 52 percent to $303 million.

Tata Motors posted its first drop in profit in five quarters as its Jaguar Land Rover (JLR) business faced higher spending and a drop in operating margin after 18 months of soaring profit.

Tata Motors ADR also fell 4.9 percent to $27.25 on Thursday.

(Reporting by Abhishek Vishnoi; Editing by Anupama Dwivedi)