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Tata Motors shares dive over 8 pc after Q1 earnings

Newe Delhi: Shares of Tata Motors today slumped over 8 per cent after the company’s June quarter earnings failed to meet market expectations.

After opening the day on a weak note, shares of the company further plunged 8.23 per cent to Rs 382.45 — its 52- week low — on BSE.

On NSE, shares of the company dived 8.16 per cent to hit its one year low of Rs 382.10.

Homegrown auto major Tata Motors yesterday reported 41.54 per cent jump in net profit to Rs 3,199.93 crore for the June quarter of the current fiscal, benefiting from one-time gain relating to changes made to JLR pension plans.

It had posted consolidated net profit of Rs 2,260.4 crore in the April-June period of last fiscal, Tata Motors said in a BSE filing.

Income from operations during the period under review stood at Rs 59,818.22 crore, as against Rs 66,165.89 crore in the year-ago period, down 9.59 per cent.

PTI