Feb 5 (Reuters) - India’s Tata Motors Ltd reported about a 13-fold rise in quarterly profit on Monday, driven by higher sales from its Jaguar Land Rover (JLR) business after a particularly weak quarter a year earlier.
Net profit for the quarter ended Dec. 31 came in at 11.99 billion rupees ($187.15 million) versus 937.7 million rupees in the same quarter a year earlier. (bit.ly/2nIM92Z)
That fell way short of the average estimate of 23.95 billion rupees drawn from 20 analysts polled by Thomson Reuters I/B/E/S.
Total JLR retail sales rose 3.5 percent for the quarter.
$1 = 64.0650 Indian rupees Reporting by Arnab Paul in Bengaluru Editing by Edwina Gibbs