India’s Tata Motors, the largest
automobile maker in the country by revenue, reported a 7.1 per cent drop in its
second quarter profit.
The company’s net profit fell to Rs.
3,291 crore in the second quarter ended Sept. 30 from Rs. 3,542
crore a year earlier.
Revenue rose 6.5 per cent to Rs. 60,164
crore. Excluding exports, sales of its commercial and passenger vehicles fell 15.7
per cent during the quarter versus last year.
Tata Motors has been reliant on sales by
luxury British carmaker Jaguar Land Rover (JLR), which it bought in 2008, to
prop up profits for the past few years.
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