• Sunday, May 22, 2022

Business

Tata Motors’ profit boost

Tata Motors

By: Eastern Eye Staff

INDIA’S largest carmaker Tata Motors reported a three-fold increase in quarterly profits on Mon- day (30), boosted by strong sales of luxury British unit Jaguar Land Rover and a one-off insurance payment. Consolidated net profit for the three months to the end of March 2016 rose to `51.8 billion (£527 million) from `17.2 billion a year ago, the Mumbai- based company said. That was well above the estimate in a survey of 25 analysts by Bloomberg News who predicted that the car manufacturer would report net profits of `35.3 billion for the fourth quarter. Tata said its profits had been…

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