Tata Motors Shares Fall Over 8% After Q1 Earnings
New Delhi: Tata Motors shares on Thursday slumped over 8 per cent after the company's June quarter earnings failed to meet market expectations. After opening the day on a weak note, shares of the company further plunged 8.23 per cent to Rs 382.45 - a 52-week low -- on the Bombay Stock Exchange (BSE). On the National Stock Exchange (NSE), shares of the company dived 8.16 per cent to hit a one-year low of Rs 382.10.
Homegrown auto major Tata Motors on Wednesday reported a 41.54 per cent jump in net profit at Rs 3,199.93 crore for the June quarter of the current fiscal year, benefiting from one-time gain relating to changes made to Jaguar Land Rover (JLR) pension plans.
Tata Motors had posted a consolidated net profit of Rs 2,260.4 crore in the April-June period of last fiscal year, it said in a filing to the BSE.
Income from operations during the period under review stood at Rs 59,818.22 crore, as against Rs 66,165.89 crore in the year-ago period, down 9.59 per cent.
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