FILE PHOTO: A Tata Tigor car is pictured at the assembly line inside the Tata Motors car plant in Sanand, on the outskirts of Ahmedabad, India, August 7, 2018. REUTERS/Amit Dave
BENGALURU (Reuters) – India’s Tata Motors Ltd (TAMO.NS) reported a quarterly profit on Thursday, compared with a year-earlier loss, as the maker of British luxury car brands Jaguar and Land Rover kept a tight lid on costs.
The carmaker’s net profit was 17.38 billion rupees ($244.55 million) for the third quarter ended Dec. 31, compared with a loss of 269.93 billion rupees a year earlier, when it had booked an impairment charge on the British luxury car unit.
Analysts on average expected the company to post a profit of 10.19 billion rupees, according to Refinitiv data.
Revenue from operations fell to 716.76 billion rupees from 769.16 billion rupees a year earlier.
Reporting by Chandini Monnappa in Bengaluru