Tata Motors Q1 net jumps 3 fold to Rs 5,398.21 crore

Tata Motors Ltd, India's biggest automaker by revenue, on Monday beat forecasts as first-quarter net profit more than tripled on strong sales of its luxury Jaguar and Land Rover vehicles that continued to offset a drop in domestic sales.

Tata Motors, part of the $100 billion Tata conglomerate, said consolidated net profit for the April-June quarter rose to Rs 53.98 billion ($882.31 million) compared with Rs 17.68 billion a year ago.

Analysts had expected an average profit of Rs 37.1 billion, according to Thomson Reuters I/B/E/S.

Consolidated revenue grew 38.2 percent to Rs 646.83 billion.

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