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Tata Motors Stock Falls 5 Per Cent as Results Disappoint
Shares in Tata Motors was hammered down a huge 5 per cent after the company's results failed to meet expectations. The stock was last traded at Rs 562 per share.
The profit before tax for the quarter stood at Rs.5,732 crores, a de-growth of 6.4 per cent over Rs.6,127 crores for the corresponding quarter last year. The Consolidated Profit after tax (post minority interest and profit/loss in respect of associate companies) for the quarter was Rs.3,581 crores, a de-growth of 25.5 per cent over Rs.4,805 crores for the corresponding quarter last year.
Jaguar Land Rover managed to show a spectacular performance with wholesales and retails for the quarter ended December 31, 2014 stood at 122,187 units and 111,525 units respectively.
The net profit overall for the company was way below analysts expectations and so were the margins which were largely hit due to domestic operations.
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