Tata Motors Ltd. said its net profit tripled during the last quarter, fueled by a strong performance at its Jaguar Land Rover unit.
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.
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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 firstname.lastname@example.org
(END) Dow Jones Newswires
November 09, 2017 04:33 ET (09:33 GMT)