JLR parent Tata Motors posts quarterly profit
Reuters
Published Jan 30, 2020 05:49AM ET
JLR parent Tata Motors posts quarterly profit
BENGALURU (Reuters) - India's Tata Motors Ltd (NS:TAMO) reported a quarterly profit on Thursday, compared with a year-earlier loss, as the maker of British luxury car brands Jaguar and Land Rover kept a tight lid on costs.
The carmaker's net profit was 17.38 billion rupees ($244.55 million) for the third quarter ended Dec. 31, compared with a loss of 269.93 billion rupees a year earlier, when it had booked an impairment charge on the British luxury car unit.
Analysts on average expected the company to post a profit of 10.19 billion rupees, according to Refinitiv data.
Revenue from operations fell to 716.76 billion rupees from 769.16 billion rupees a year earlier.
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Written By: Reuters
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