India's Tata Motors Q2 net profit down 16 pct, lags forecast

Newswire

Nov 14 (Reuters) - India's Tata Motors on Monday said profit for the quarter to end-September fell 16 percent from a year ago, lagging market estimates hit by higher costs and foreign exchange losses. Tata Motors, part of India's salt-to-software Tata conglomerate, whose range includes the ultra-cheap Nano and British luxury brands Jaguar and Land Rover, posted net profit of 18.77 billion rupees ($374.5 million) compared with 22.23 billion a year ago. Revenue was rose 26 percent to 359.4 ...

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