India's Tata Motors FY09 net down 51 pct

Newswire

MUMBAI, May 29 (Reuters) - Tata Motors Ltd , India's top vehicle maker, reported a smaller-than-expected 50.7 percent drop in full-year profit as sales picked up in the March quarter and raw material prices fell. The company, which controls about 60 percent of the world's fifth-biggest truck and bus market, said net profit fell to 10.01 billion rupees ($212 million) in the fiscal year ended March from 20.29 billion a year earlier. Revenues fell 10.7 percent to 256.6 billion rupees from ...

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