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Friday November 27, 04:10 PM
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Tata Motors posts consolidated qtrly profit
MUMBAI (Reuters) - Tata Motors (TATAMOTORS.BO : 680.5 +6.9
), India's top vehicle maker, unexpectedly posted a consolidated profit for the September quarter, helped by tighter control of costs and gains from investments in associate firms.
The company, owner of the UK-based Jaguar and Land Rover brands, on Friday reported a consolidated net profit 217.8 million rupees ($4.7 million) for its fiscal second quarter ended September.
In the year-earlier period, the company posted a consolidated net loss of 9.42 billion rupees.
The firm reported a net loss from ordinary activities of 21.5 million rupees.
In October, Tata Motors reported a standalone net profit for its Indian operations, which have about 60 percent of the world's fifth-biggest truck and bus market, of 7.29 billion rupees.
Shares in Tata Motors, valued at $7.3 billion, ended 0.8 percent lower at 629.50 rupees, while the benchmark BSE (^BSESN : 16034.49 -7.69
) index fell 1.3 percent.
(Reporting by Pratish Narayanan; Editing by John Mair)
(For more news on Reuters Money visit http://www.reutersmoney.in)
