Tata Motors posts consol Q1 loss on JLR unit

MUMBAI Aug 31 (Reuters) - Tata Motors (TAMO.BO) (TTM.N), India's largest vehicle maker, posted a consolidated first quarter loss on Monday, as its loss-making Jaguar and Land Rover (JLR) unit erased gains from accounting changes and asset sales.

The company, which controls about 60 percent of the world's fifth-biggest truck and bus market, reported a 3.29 billion rupees ($67.4 million) consolidated loss for April-June.

In the year-ago quarter, the company posted a consolidated net profit of 7.2 billion rupees, but the figures are not comparable as the previous period contains the figures for JLR for the period June 2-30, the company said.

Consolidated net sales for the quarter rose to 162.9 billion rupees from 144.1 billion a year ago.

In July, Tata Motors reported a standalone net profit of 5.14 billion rupees. [ID:nBOM442247]

Shares in Tata Motors, valued at $4.5 billion, were up 0.4 percent at 491.60 rupees at 4.23 p.m. (0953 GMT), ahead of its results, while the main index .BSESN was down 1.6 percent. Its shares have more than trebled so far this year. ($1=48.8 rupees) (Reporting by janaki Krishnan; Editing by Ranjit Gangadharan)