By Reuters | Bengaluru |
Tata Motors Ltd reported a 47% drop in quarterly profit on Monday as the Indian automaker struggled to sell its luxury Jaguar Land Rover (JLR) cars in key markets like China, and was also hit by a broader economic slowdown at home.
India's biggest automaker by revenue earned Rs 1,117.48 crore ($160.
26 million) in net profit for the three months ended March 31, its fourth quarter, versus Rs 2,125.24 crore a year earlier when it took in a one-off charge of Rs 1,641 crore. Revenue from wholly owned subsidiary Jaguar.
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