India's Tata Motors posts FY09 net loss of $520 mln

Newswire

MUMBAI, June 26 (Reuters) - Tata Motors , India's top vehicle maker, reported on Friday its first annual loss in at least eight years, hit by slowing demand and losses at its Jaguar and Land Rover unit it bought in 2008. The firm , which controls 60 percent of the world's fifth-biggest truck and bus market, reported consolidated net loss for the year ended March 2009 of 25.05 billion rupees ($520 million) versus net profit of 21.68 billion rupees a year ago. Net sales rose to 703.70 ...

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