Tata Motors Quarterly Net Profit Triples

By Debiprasad Nayak Features Dow Jones Newswires

Tata Motors Ltd. said its net profit tripled during the last quarter, fueled by a strong performance at its Jaguar Land Rover unit.

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The auto maker reported a net profit of INR24.83 billion ($382.6 million) in the July-September period, up from INR8.28 billion a year earlier and higher than the INR15 billion estimated by analysts polled by Thomson Reuters. Its revenue rose 8.5% to INR701.56 billion during the period.

JLR, which contributes the bulk of earnings at Tata Motors, reported a 38% jump in pretax profit during the quarter.

Shares of Tata Motors recovered from early losses and was trading up 0.7% after the results.

Write to Debiprasad Nayak at debiprasad.nayak@wsj.com

(END) Dow Jones Newswires

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November 09, 2017 04:33 ET (09:33 GMT)