May 20, 2019 / 10:54 AM / 8 months ago

Tata Motors' Q4 profit slumps as Jaguar Land Rover sales hit

BENGALURU, May 20 (Reuters) - Tata Motors Ltd reported a 47% drop in quarterly profit on Monday as the Indian automaker struggled to sell its luxury Jaguar Land Rover (JLR) cars in key markets like China, and was also hit by a broader economic slowdown at home.

India’s biggest automaker by revenue earned 11.17 billion rupees ($160.26 million) in net profit for the three months ended March 31, its fourth quarter, versus 21.25 billion rupees a year earlier when it took in a one-off charge of 16.41 billion rupees.

Revenue from wholly owned subsidiary Jaguar Land Rover Automotive PLC fell 5% to 651.46 billion rupees. The unit brings in most of Tata’s revenue. ($1 = 69.6975 Indian rupees)

Reporting by Nivedita Bhattacharjee and Chris Thomas; Editing by Christopher Cushing and Susan Fenton

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