• Thursday, December 08, 2022

Business

Tata Motors profits fall 17 per cent on pound decline

Tata Motors

By: Sarwar Alam

Indian carmaker Tata Motors on Tuesday (23) reported a 17 per cent fall in quarterly profits, as the pound depreciated against the rupee following Britain’s vote to leave the European Union. The company’s consolidated net profit for the three months ending March fell to 43.36 billion rupees ($668.72 million) from 52.11 billion rupees a year earlier, the Mumbai-based company said in a statement. Revenue fell 2.6 per cent to 789.81 billion rupees. Jaguar Land Rover, one of Tata Motors’ key products, relies heavily on the UK market for its revenue and sales. Since the Brexit referendum, the pound has fallen sharply…

You do not have access to this content. You need to subscribe.

Eastern Eye

Related Stories

Eastern Eye

Videos

Mrunal Thakur on Dhamaka, experience of working with Kartik Aaryan,…
Nushrratt Bharuccha on Chhorii, pressure of comparison with Lapachhapi, upcoming…
Abhimanyu Dassani on Meenakshi Sundareshwar, how his mom Bhagyashree reacted…