Tata Motors net down 96 per cent on poor JLR, domestic sales

Hit by slow growth in sales at its British luxury carmaker Jaguar Land Rover and losses in its domestic business, auto major Tata Motors on Tuesday reported a worse than expected 96 per cent fall in consolidated net profit to Rs 111.57 crore for the December quarter against a net profit of Rs 2,952.67 crore in the same quarter of last financial year.

With demonetisation hurting sales in the commercial vehicles segment, the



company’s consolidated sales during the October-December quarter were down 2.2 per cent to Rs 67,864.95 crore as against Rs 69,398.07 crore in the year-ago period. On a standalone basis, Tata Motors’ loss after tax widened to Rs 1,046 crore in the third quarter of 2016-17 from Rs 137 crore a year ago.

On a standalone basis, Tata Motors’ loss after tax widened to Rs 1,046 crore in the third quarter of 2016-17 from Rs 137 crore a year ago.