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Tata Motors third quarter profit rises about 13-fold on higher Jaguar Land Rover sales

Published 05/02/2018, 10:21
Updated 05/02/2018, 10:30
© Reuters. A Tata Motors logo is pictured outside the company showroom in Mumbai
TAMO
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(Reuters) - India's Tata Motors Ltd (NS:TAMO) reported about a 13-fold rise in quarterly profit on Monday, driven by higher sales from its Jaguar Land Rover (JLR) business after a particularly weak quarter a year earlier.

Net profit for the quarter ended Dec. 31 came in at 11.99 billion rupees ($187.15 million) versus 937.7 million rupees in the same quarter a year earlier.

That fell way short of the average estimate of 23.95 billion rupees drawn from 20 analysts polled by Thomson Reuters I/B/E/S.

Total JLR retail sales rose 3.5 percent for the quarter.

© Reuters. A Tata Motors logo is pictured outside the company showroom in Mumbai

($1 = 64.0650 Indian rupees)

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