MUMBAI (Thomson Financial) - Tata Motors Ltd. said first-quarter net profit fell nearly 30 percent due to higher input costs and valuation loss from the volatility in foreign exchange rates.
For the quarter to July 30, the auto maker's net profit declined 30.13 percent to 3.26 billion rupees from 4.66 billion rupees last year while net revenue rose 14.4 percent to 69.28 billion rupees from last year.
Tata Motors (nyse: TTM news people) shares provisionally closed up 6.85 percent to 424 rupees, while the benchmark Sensex rose 3.63 percent to 14,291.58.
No comments:
Post a Comment