Tata Motors Profit Beats Estimates as Jaguar Sales Climb
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Tata Motors Ltd., India’s biggest automaker, posted profit that beat analyst estimates as increased sales at its Jaguar Land Rover Ltd. luxury unit offset losses at home.
Fourth-quarter net income fell 37 percent to 39.5 billion rupees ($704 million), the Mumbai-based company said. That beat the 26.7 billion-rupee median of 41 analysts’ estimates compiled by Bloomberg. Profit at the luxury unit was 378 million pounds ($572 million), surpassing the 365 million-pound median estimate of eight analysts surveyed by Bloomberg News.