Tata Motors Q3 net rises about 13-fold on higher JLR sales at Rs 12 bn

Tata Motors Q3 net rises about 13-fold on higher JLR sales at Rs 12 bn

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 December 31 came in at Rs 12 billion versus Rs 937.7 million in the same quarter a year earlier.

That fell way short of the average estimate of Rs 23.95 billion drawn from 20 analysts polled by Thomson Reuters I/B/E/S.

Total JLR retail sales rose 3.5 percent for the quarter.

On Monday, Tata Motors' scrip on BSE closed 3% higher at Rs 396.05.