Tata Motors Posts Downbeat Q2 Results

Tata Motors Ltd

posted an 11% rise in its second-quarter consolidated net profit. Tata Motors' quarterly net profit surged to 20.75 billion rupees ($382.77 million), from 18.77 billion, in the year-ago period. Its sales climbed 19% to 428.19 billion rupees from 359.38 billion rupees. However, analysts were expecting a net profit of 25.74 billion rupees on sales of 442.49 billion rupees. Jaguar Land Rover's net profit surged 77% y/y to 305 million pounds ($487.67 million). Tata Motors shares closed at $25.02 yesterday.