Tata Motors gains on optimism of Jaguar Land Rover sales

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Tata Motors gains on optimism of Jaguar Land Rover sales
Shares in Tata Motors gained despite the company's results lagging estimates as optimism on JLR sales fuelled buying in the stock.

Shares of the company were last trading at Rs 283 on the National Stock Exchange.

Tata Motors had reported consolidated revenues of Rs.46,785 crores for the quarter ended June 30, 2013, a growth of 8.0% over Rs.43,324 crores for the corresponding quarter of the previous year, despite a weak operating environment in the standalone business which was more than offset by strong demand, growth in volumes, richer product mix and favourable foreign exchange at Jaguar Land Rover (JLR).

The consolidated profit before tax for the quarter was Rs.2,927 crores, as compared to Rs.3,183 crores for the corresponding quarter of the previous year and the consolidated profit (after tax and post minority interest and profit/loss (net) in respect of associate companies) for the quarter was Rs.1,726 crores as compared to Rs.2,245 crores for the corresponding quarter of the previous year.

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