Tata Motors sees profits fall but Jaguar sales rise
- 14 November 2011
- From the section Business
Indian carmaker Tata Motors has reported a 16% fall in quarterly profits as higher costs and foreign exchange losses took their toll.
In the three months to the end of September, Tata made net profits of 18.77bn rupees ($372.9m; £234.5m), as against 22.23bn rupees a year earlier.
But its Jaguar Land Rover (JLR) subsidiary in the UK posted a 9% increase in profits for the same period to £287m before tax.
JLR said its global sales were up 30%.
Last week, it said it would be creating more than 1,000 new jobs at its Land Rover plant in Solihull, where nearly 5,000 people currently work.
JLR has benefited from demand for its new Range Rover Evoque model.
Tata Motors bought the company from Ford for £1.5bn in June 2008.