Online:
Visits:
Stories:
Profile image
By Eric Peters Autos
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Tata Motors Flatlines

Thursday, February 16, 2017 5:29
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Automobiles, Motorcycles and Libertarian Politics

I neglected to include Jaguar and Land Rover in my Dead Pool article a couple weeks back. Turns out they may go down the tubes first – before Mitsubishi.

India’s Tata Motors – which owns the two brands – reported a 96 percent fall in net profit for its third quarter, citing sharply lower earnings for its British luxury carmaker business.

Consolidated net profit for the three months to Dec. 31 fell to 1.12 billion rupees ($16.7 million) from 29.53 billion a year earlier, the company said on Tuesday. Total income from operations fell 4.3 percent to 685.41 billion rupees.

Jaguar Land Rover’s net profit declined to 167 million pounds ($208 million) from 440 million a year ago, on revenue up 13.1 percent to 6.5 billion.

Tata Motors’ domestic business reported a net loss of 10.46 billion rupees as it revamped its passenger vehicles business to boost sales and gain market share.

Carmakers in India were also hit in the third quarter by Prime Minister Narendra Modi’s “demonetisation” move in November, when he declared notes of 500 rupees and 1,000 rupees illegal tender, taking about 86 percent of total currency out of circulation.

The post Tata Motors Flatlines appeared first on EPautos – Libertarian Car Talk.



Source: http://ericpetersautos.com/2017/02/16/tata-motors-flatlines/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.