Tata Motors said net profit for the January-March quarter was 39.18 billion rupees ($665.48 million), down 0.7 percent from the same time the year before, with net sales up 16 percent to 647.16 billion rupees.
Analysts had on average expected a profit of 46.37 billion rupees, according to Thomson Reuters Starmine.
The company reported a foreign exchange loss of 3.55 billion rupees.