Tata Motors quarterly profit surges on Jaguar Land Rover sales [Reuters]
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Source: Reuters
Tata Motors quarterly profit surges on Jaguar Land Rover sales | Reuters Reuters Staff 2 Min Read (Reuters) - Tata Motors Ltd reported on Monday a surge in quarterly profit, driven by higher sales at its Jaguar Land Rover (JLR) business after an exceptionally weak quarter a year earlier. Net profit for the quarter ended Dec. 31 came in at 11.99 billion rupees ($187.15 million) compared with 937.7 million rupees in the same quarter a year ago. That fell way short of the average estimate of 23.95 billion rupees drawn from 20 analysts polled by Thomson Reuters I/B/E/S. Growth in China was offset by flatter demand in the UK, the United States and mainland Europe due to uncertainty over the regulation of diesel and concerns over Britain's departure from the European Union, the company said in a statement. ( bit.ly/2nIM92Z ) Tata Motors saw profit in the year-ago quarter hit by lower wholesale volumes and higher marketing expenses at its Jaguar Land Rover unit as well as wider losses at its
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