Tata Motors Q3 net profit down 2%; but beats expectations
The company reported lower sales of its luxury Jaguar Land Rover unit in China, once its fastest growing market.
- Feb 11, 2016,
- Updated May 3, 2016 7:48 AM IST
Country's biggest automaker Tata Motors reported consolidated net profit down by 2 per cent at Rs 3,507.54 crore in Q3, still managing to beat analyst expectations.
Its net sales were up 3.71 per cent at Rs 71,686.12 crore for the December quarter.
The analysts had expected company's net profit at Rs 2,761 crore for the third quarter, hit by weak China sales. The company reported lower sales of its luxury Jaguar Land Rover unit in China, once its fastest growing market.
But the automaker managed to beat analyst expectations, helped by strong sales of its Jaguar saloons and sporty Range Rover vehicles in Europe and North America that partly offset the slowdown in China.
Tata Motors said it had reported net profit of Rs 3,581 crore in Q3 in the year-ago period.
Country's biggest automaker Tata Motors reported consolidated net profit down by 2 per cent at Rs 3,507.54 crore in Q3, still managing to beat analyst expectations.
Its net sales were up 3.71 per cent at Rs 71,686.12 crore for the December quarter.
The analysts had expected company's net profit at Rs 2,761 crore for the third quarter, hit by weak China sales. The company reported lower sales of its luxury Jaguar Land Rover unit in China, once its fastest growing market.
But the automaker managed to beat analyst expectations, helped by strong sales of its Jaguar saloons and sporty Range Rover vehicles in Europe and North America that partly offset the slowdown in China.
Tata Motors said it had reported net profit of Rs 3,581 crore in Q3 in the year-ago period.