MUMBAI May 29 Tata Motors Ltd posted
a 36.7 percent fall in fourth-quarter net profit, a
smaller-than-expected drop, as a jump in sales at its Jaguar
Land Rover (JLR) subsidiary offset falling profit at its
Tata Motors, part of the salt-to-steel Tata conglomerate,
said net profit for the January-March quarter was 39.45 billion
rupees ($705 million), down from 62.34 billion rupees the
previous year, with revenue up 10 percent at 560 billion rupees.
A one-off tax gain contributed to a significantly higher net
profit in the year-ago quarter.
Analysts, on average, expected net profit of 28.86 billion
rupees on revenue of 518.51 billion rupees, according to Thomson
Shares in Tata Motors closed 2.7 percent higher at 303.80
rupees before the quarterly numbers were released. The main
Mumbai market index fell 0.1 percent and the auto sector
index rose 0.3 percent.