Tata Motors Q3 net profit up 195% on Jaguar Land Rover sales

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Tata-Motors-Q3-net-profitMUMBAI: Tata Motors Ltd, India’s biggest automaker by revenue, beat forecasts and posted on Monday a 195% increase in third-quarter net profit which was boosted by strong demand for its luxury Jaguar Land Rover vehicles.

Tata Motors said consolidated net profit for the October-December quarter was Rs 48.05 billion ($770.53 million), compared to Rs 16.3 billion a year ago.

Analysts had expected an average profit of Rs 33.89 billion, according to Thomson Reuters I/B/E/S.

British luxury carmaker JLR, which Tata Motors bought in 2008, has been propping up profits at its parent for the past two years.