Tata Motors Share Fall @ Latest report About Tata Motors

Tata Motors dipped 9% to Rs 441 in intra-day trade, extending its Tuesday’s 3.5% decline on the BSE, after the country’s largest automobile company by revenue reported disappointing set of numbers for the quarter ended December 2016 (Q3FY17). The consolidated net profit during the quarter under review plunged by 96% to Rs 112 crore due to a steep decline in profit at its overseas unit Jaguar Land Rover (JLR) and higher losses in domestic operations.

The company had reported consolidated profits of Rs 2,953 crore in the third quarter (Q3) of FY16. The company’s consolidated revenues during the quarter were down 4% to Rs 67,484 crore as against Rs 70,567 crore for the corresponding quarter last year.

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