Jaguar Land Rover's profit falls most in two years on China sales
It says new launches, and conditions in China and Russia, may lead to lower Ebitda margins relative to sales in 2015
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Mumbai
JAGUAR Land Rover became the latest casualty of a slowdown in Chinese auto demand, reporting its steepest drop in quarterly profit in two years after retail deliveries slumped in the world's largest vehicle market.
Profit fell 33 per cent to £302 million (S$628 million) in the three months ended March, the biggest decline since the quarter ended March 2013. That contributed to a worse-than-estimated drop in earnings at its parent, India's Tata Motors Ltd, which also faced a prolonged slump in demand for commercial vehicles in its home market.
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