Tata Motors down 4.8 percent on plunge in Jan-March net profit

27 May, 2015 3:50 pm

MUMBAI – Tata Motors shares fell 4.8 percent in pre-open trade on Wednesday after the company’s net profit more than halved in the Jan-March quarter.

India’s biggest automaker by revenue reported a surprise 56 percent drop in its March quarter net profit on Tuesday, hit by cooling demand for its sleek Jaguar saloons and sporty Range Rovers in the key Chinese market. – Reuters

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