BENGALURU: Tata Motors Ltd reported a 47pc 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 11.17 billion rupees ($160.26 million) in net profit for the three months ended March 31, its fourth quarter, versus 21.25 billion rupees a year earlier when it took in a one-off charge of 16.41 billion rupees.
Revenue from wholly owned subsidiary Jaguar Land Rover Automotive PLC fell 5pc to 651.46 billion rupees. The unit brings in most of Tata's revenue.
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