Tata Motors Shares Fall 7% As Results Lag Estimates

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Shares in Tata Motors fell a huge 7 per cent, as results of the company lagged estimates. The shares of the company were last seen trading at Rs 470, down 7 per cent.

Tata Motors Shares Fall 7% As Results Lag Estimates
"The consolidated profit after tax (post profit / loss in respect of joint ventures and associate companies) for the quarter was Rs.848 crores, against the Consolidated Loss after tax (post profit / loss in respect of joint ventures and associate companies) of Rs.1,740 crores for the corresponding quarter last year," the company said in a release.

Total Retail sales including the China JV in the second quarter were 142,459 units, up 29.3%, primarily reflecting strong sales of the Discovery, Discovery Sport, Evoque, XE and the new F-PACE.

Retail sales grew across all key regions with North America up 39%, UK up 28%, China up 49%, Europe up 31% and Overseas markets up 1%. Jaguar Land Rover wholesales and retail excluding the China JV for the quarter were 124,192 units and 128,967 units, up 11.7% and 22.7% respectively year on year. China JV wholesales and retails for the quarter were 15,043 units and 13,492 units, up 169% and 165%, respectively.

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Story first published: Tuesday, November 15, 2016, 12:03 [IST]
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