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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The US can no longer take India for granted, as Kerry’s visit shows

    Despite the feel good factor in Indo-US ties, not the least surprising given BJP’s long term support for free market and laissez-faire economy, the

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Why cleanliness is a vital human right

I have spent the past few months in India witnessing ...

Parvez Imam

Tourism agenda with a colonial undertone

Tourism is supposed to bring in foreign exchange and provide ...

Dharmendra Khandal

Let the tiger breathe in its natural home

The world has been observing July 29 as International Tiger ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture