Indian automaker Tata posts 3Q profit

Nov. 28, 2009 at 8:53 AM
1 of 2
| License Photo

NEW DELHI, Nov. 28 (UPI) -- Tata Motors Ltd., India's largest automaker, says it has posted a third-quarter profit after selling more vehicles and cutting costs.

Tata company officials Friday posted a net profit of $4.6 million for the three months ending Sept. 30, compared with a net loss of $202 million in the year-earlier period, while consolidated net sales fell 8.5 percent to $4.47 billion from $4.89 billion, The Wall Street Journal reported.

The Journal said the numbers include figures generated by Tata's premium Jaguar and Land Rover brands, which it acquired last year from Ford Motor Co. for $2.3 billion.

"Most of the cars sold during the quarter were higher margin cars, which is why the fixed marketing costs got reduced," Chief Financial Officer C. Ramakrishnan told reporters in a conference call. "Many of the cost reduction measures under way in (Jaguar-Land Rover) should benefit us in coming quarters."

Latest Headlines
Top Stories
Canada builds on LNG export potential
AAA: National gas prices down, though volatility endures
BP upbeat after disappointing second quarter
Norwegian company surveying offshore Mexican reserves
Chinese woes continue drag on oil prices