Tata Motors Q3 Profit Tanks 96% On Weak JLR Operational

Tata Motors third quarter profit on consolidated basis fell sharply by 96 percent year-on-year to Rs 112 crore, impacted by big loss in domestic business and operational weakness in JLR. 

The stock lost 7.66 percent in late trade, before closing 4.6 percent down at Rs 482.05 on the BSE. Revenue during the quarter declined 4.3 percent to Rs 68,541 crore compared with Rs 71,616 crore in year-ago quarter. 

Lower wholesale volumes & relatively weaker product mix in JLR and degrowth in commercial vehicle business due to demonetisation hit topline growth despite JLR's retail sales growth of 8.5 percent.

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