Tata Motors' shares tank some 7% post 50% plunge in Q4 profit; market capitalisation drops Rs 5,861 cr

New Delhi: Shares of Tata Motors on Thursday ended with nearly 7 percent loss, wiping-out Rs 5,861 crore from its market valuation, after the company reported 49.82 percent decline in consolidated net profit for the March quarter. The stock dropped 6.56 percent to settle at Rs 288.95 on BSE. During the day, it slumped 7.93 percent to Rs 284.70 – its 52-week low. On NSE, shares of the company slumped 6.33 percent to close at Rs 289.85. [caption id=“attachment_4095681” align=“alignleft” width=“380”] Representative image. Reuters[/caption] The company’s market valuation also fell by Rs 5,861.06 crore to Rs 83,429.94 crore. In terms of equity volume, 32.61 lakh shares of the company were traded on BSE and over four crore shares changed hands on NSE during the day. The stock was the top loser on both key indices during the day. The homegrown auto major yesterday reported 49.82 percent decline in consolidated net profit at Rs 2,176.16 crore for the March quarter with its British arm JLR continuing to face challenges in the UK and Europe, in addition to one-time impairment charge. It had posted consolidated net profit of Rs 4,336.43 crore in the corresponding period of last fiscal, Tata Motors said in a BSE filing. Its consolidated income from operations in the fourth quarter of 2017-18 was Rs 91,279.09 crore. It was at Rs 78,746.61 crore in the year-ago quarter.