Tata Motors Profit Falls 23 Percent, Misses Estimates

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India's biggest truck and bus maker Tata Motors (TAMO.NS) posted a 23 percent fall in quarterly profit, the third straight decline, as higher sales of its luxury Jaguar Land Rover vehicles failed to offset sagging sales at home.

Tata Motors

India's biggest truck and bus maker Tata Motors (TAMO.NS) posted a 23 percent fall in quarterly profit, the third straight decline, as higher sales of its luxury Jaguar Land Rover vehicles failed to offset sagging sales at home.

Tata Motors, part of the $100 billion Tata group, said consolidated net profit for the quarter ended in June was 17.26 billion rupees, compared with 22.45 billion rupees a year ago. Net sales rose 8.3 percent to 467.51 billion rupees.

Analysts on average expected a net profit of 22.34 billion rupees, according to Thomson Reuters data.

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