New Delhi: Tata Motors shares on Thursday 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 – a 52-week low — on the Bombay Stock Exchange (BSE). On the National Stock Exchange (NSE), shares of the company dived 8.16 per cent to hit a one-year low of Rs. 382.10.
Homegrown auto major Tata Motors on Wednesday reported a 41.54 per cent jump in net profit at Rs. 3,199.93 crore for the June quarter of the current fiscal year, benefiting from one-time gain relating to changes made to Jaguar Land Rover (JLR) pension plans.
Tata Motors had posted a consolidated net profit of Rs. 2,260.4 crore in the April-June period of last fiscal year, it said in a filing to the BSE.