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E-mail ID will not be published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

  • Redefining the age of minors from 18 to 16 makes sense

    An issue that’s been simmering since the horrific gangrape of December 2013 is finally being laid to rest.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

The difficulties with war history

There have been a series of commemorative events lately. Last ...

Anish Chakraborty

Betting big on Pascal’s wager

Blaise Pascal was a 17th century French philosopher mathematician and ...

Bubbles Sabharwal

The five cardinal rules of urban snobs

Believe it or not there is the unspoken-of society of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture