Tata Motors Q3 net profit up 195 pct on Jaguar Land Rover sales
MUMBAI Feb 10 (Reuters) - Tata Motors Ltd, India's biggest automaker by revenue, beat forecasts and posted on Monday a 195 percent increase in third-quarter net profit which was boosted by strong demand for its luxury Jaguar Land Rover vehicles.
Tata Motors said consolidated net profit for the October-December quarter was 48.05 billion rupees ($770.53 million), compared to 16.3 billion rupees a year ago.
Analysts had expected an average profit of 33.89 billion rupees, according to Thomson Reuters I/B/E/S.
British luxury carmaker JLR, which Tata Motors bought in 2008, has been propping up profits at its parent for the past two years. ($1 = 62.3600 Indian rupees) (Reporting by Aradhana Aravindan; Editing by Miral Fahmy)