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India's Tata Motors Q3 profit down 26%, misses estimates
[NEW DELHI] Tata Motors Ltd, India's biggest automaker by revenue, posted a 25.5 per cent fall in quarterly net profit, missing analyst estimates, weighed down by losses in its India business as vehicle sales fell.
Tata Motors, part of the US$100 billion Tata conglomerate, said on Thursday consolidated net profit in the quarter ended Dec 31 fell to 35.81 billion rupees (US$579.91 million) compared with 48.05 billion rupees a year ago.
Analysts had expected, on average, profit of 49.24 billion rupees, according to Thomson Reuters I/B/E/S.
Consolidated sales rose 9.6 per cent to 699.42 billion rupees.