- Thursday, April 25, 2024
By: Sarwar Alam
Indian carmaker Tata Motors on Wednesday (23) reported a staggering 50 percent fall in quarterly net profit, blaming a huge one-off investment and a slowdown in sales. Consolidated net profit for the three months ending March 31 fell to 21.25 billion rupees ($310.53 million) from 43.36 billion rupees a year earlier, the Mumbai-based company said. Analysts had predicted that Tata Motors would record a net profit of $550 million but they were unaware of a multi-billion-dollar investment which the firm said was responsible for the profits slump. “…FY18 has been a hallmark year for Tata Motors with a record-breaking sales…
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