Tata Motors Q4 profit falls 36%, beats market forecast

Mumbai: Tata Motors Ltd posted a 36.7 percent fall in fourth-quarter net profit, a smaller-than-expected drop, as a jump in sales at its Jaguar Land Rover (JLR) subsidiary offset falling profit at its domestic business.

Tata Motors, part of the salt-to-steel Tata conglomerate, said net profit for the January-March quarter was Rs 3945 crore, down from Rs 6234 crore the previous year, with revenue up 10 percent at Rs 560 crore.

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A one-off tax gain contributed to a significantly higher net profit in the year-ago quarter.

Analysts, on average, expected net profit of Rs 2886 crore on revenue of Rs 51851 crore, according to Thomson Reuters Starmine.

Shares in Tata Motors closed 2.7 percent higher at Rs 303.80 before the quarterly numbers were released. The Nifty fell 0.1 percent and the auto sector index rose 0.3 percent.

Reuters