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India's Tata Motors quarterly profit falls short of estimates

Reuters - UK Focus

NEW DELHI, Nov 14 (Reuters) - India's Tata Motors Ltd (BSE: TATAMOTORS.BO - news) on Monday posted a quarterly net profit but missed estimates due to higher realised hedging losses and a one-time provision at its British luxury unit Jaguar Land Rover, the company said in a statement.

Consolidated (Berlin: 28568634.BE - news) net profit for the three months ended Sept 30 was 8.48 billion rupees ($125.1 million) compared with a net loss of 17.40 billion rupees in the year-ago quarter. Total (LSE: 524773.L - news) income from operations rose 7 percent to 670 billion rupees.

Analysts on average expected Tata Motors to post a profit of 27.44 billion rupees, according to Thomson Reuters (Dusseldorf: TOC.DU - news) data.

Jaguar Land Rover (JLR) reported a net profit of 244 million pounds ($305 million) compared with a loss of 92 million pounds in the year-ago quarter. JLR revenues rose 23 percent to 5.95 billion pounds over the same period. ($1 = 67.7750 Indian rupees) ($1 = 0.8010 pounds) (Reporting by Aditi Shah and Promit Mukherjee; Editing by Keith Weir)