Tata Motors tumbles 9% post Q2 results

Tata Motors tumbles 9% post Q2 results

15/11/2016 13:07

Shares of Tata Motors tumbled nearly 9 per cent on the Bombay Stock Exchange after the auto major’s second quarterly profit fell short of expectations.

The automobile giant on Monday reported consolidated profit after tax of Rs 848 crore for the September quarter, riding on robust sales of its British arm Jaguar Land Rover across various overseas markets.

It had posted a consolidated loss after tax of Rs 1,740 crore in the July-September period of last fiscal. On standalone basis, Tata Motor’s net loss widened to Rs 631 crore for the quarter under review, compared to Rs 289 crore in the year-ago period.

Shares of company declined as much as 8.11 per cent to hit intraday low of Rs 462.05 apiece on Bombay Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 26,446.67, down 354.18 points, or 1.32 per cent, at 13:10 hours.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s