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Tata Motors' Q3 profit declines 22% amid slowing demand
Mint Kolkata
|January 30, 2025
JLR's quarterly pretax profit fell 17% year-on-year to £523 million while revenue increased 1.4% to £7.5 billion
Tata Motors Ltd, the parent company of Britain's Jaguar Land Rover (JLR), reported a lower-than-expected quarterly profit as a broader consumption slowdown in its home market hurt sales of cars as well as commercial vehicles.
Net income for the Mumbai-based company fell 22% to ₹5,451 crore in the three months ended 31 December, compared with a year ago, according to an exchange filing on Wednesday. That fell short of the average analyst estimate of ₹6,435 crore.
Revenue advanced 2.7% to ₹1.14 trillion, also missing the analyst estimates, as Tata's commercial vehicles segment slipped 8.5% and passenger vehicles fell 3.9%. Total costs rose 3.8% to ₹1.08 trillion.
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