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India's Tata Motor net profit triples in Q1
(MENAFN) Indian Tata Motor's net profits increased more than three folds in the first quarter as sales of its British luxury marque Jaguar Land Rover surged, Gulf Daily News reported.
India's biggest carmaker said the group's net profit climbed USD882.3 million in the three months to June from USD281.1 million for the same quarter of the previous year.
However, the ultra-cheap Nano hatchback maker reported a profit slid at its Indian operations, hit by a continued sharp slowdown in India's economic growth that hit its commercial vehicle.
"A continuing weak operating and economic environment in the standalone business was more than offset by strong demand for new products, growth in volumes," it said.
India's biggest carmaker said the group's net profit climbed USD882.3 million in the three months to June from USD281.1 million for the same quarter of the previous year.
However, the ultra-cheap Nano hatchback maker reported a profit slid at its Indian operations, hit by a continued sharp slowdown in India's economic growth that hit its commercial vehicle.
"A continuing weak operating and economic environment in the standalone business was more than offset by strong demand for new products, growth in volumes," it said.
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