Tata Motors warns on India operations profit for fiscal 2014

Tags: News
Tata Motors, India's largest automaker by revenue, said its domestic operations would likely not post a profit or would have "inadequate" profit for the fiscal year that ended in March, hurt by sluggish demand.

Slowing economic activity, weak consumer sentiment, increasing competition and high interest rates impacted the company's performance, Tata Motors said in a notice to the stock exchange on Tuesday.

The company's Indian operations posted a profit of 3 billion rupees ($51 million) in the fiscal year ended March 31, 2013, a 75 percent fall from the previous year.

Tata Motors, part of the diversified Tata conglomerate, has grown reliant on its luxury Jaguar Land Rover unit over the last two years to make up for weak performance at home.

The company said it planned to launch new passenger vehicles from July to improve performance, without giving details.

Tata Motors had said in February it would roll out its Bolt hatchback and Zest compact sedan in the second half of the year.

The company will report its results on Thursday.

EDITORIAL OF THE DAY

  • While net neutrality is a noble concept, internet for all is a necessity

    The Telecom Regulatory Authority of India’s directive that no service provider should offer or charge discriminatory tariffs for data services on th

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Nigavekar

Tablets, memory cards for educatioNext

The Commonwealth he­ads of government mee­ting held in Malta last ...

Rajgopal Nidamboor

Try to awaken the archaeologist within

Our mind is far ahead of René Descartes’ famous maxim, ...

Dharmendra Khandal

Urbanisation is costing us our wildlife

The road transport and highways minister Nitin Gadkari aims to ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture