New Delhi: Tata Motors Ltd on Monday posted a quarterly net profit but missed estimates due to higher realised hedging losses and a one-time provision at its British luxury unit Jaguar Land Rover, the company said in a statement.
Consolidated net profit for the three months ended September 30 was Rs 848 crore compared with a net loss of Rs 1,740 crore in the year-ago quarter. Total income from operations rose 7 percent to Rs 66,700 crore.
Analysts on average expected Tata Motors to post a profit of Rs 2,744 crore, according to Thomson Reuters data.
Jaguar Land Rover (JLR) reported a net profit of 244 million pounds ($305 million) compared with a loss of 92 million pounds in the year-ago quarter. JLR revenues rose 23 percent to 5.95 billion pounds over the same period.
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