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Tata Motors Q2 net profit falls 16%

Tata Motors Q2 net profit falls 16%

Tata Motors on Monday reported 15.55 per cent decline in its consolidated net profit for the second quarter ended September 30 at Rs 1,877.33 crore due to forex losses.

Tata Motors on Monday reported 15.55 per cent decline in its consolidated net profit for the second quarter ended September 30 at Rs 1,877.33 crore due to forex losses.

The company had posted a net profit of Rs 2,222.99 crore in the corresponding period last fiscal, Tata Motors said in a statement.

The total income from operations during the quarter, however, increased by 26.92 per cent to Rs 36,197.54 crore from Rs 28,519.22 crore in the year-ago period, it added.

The company said it suffered a forex loss of Rs 439 crore in last quarter compared to a gain of Rs 127 crore in the same period last year.

The shares of the company closed 2.09 per cent down at Rs 177.90 apiece on the Bombay Stock Exchange.