Tata Motors quarterly profit falls 50 per cent from year earlier on weak demand

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MUMBAI, India - India's Tata Motors has reported a sharp drop of more than 50 per cent in its quarterly net profit from the same period a year earlier.

The automaker says its net profit was 1.6 billion rupees ($310 million) in the September-December quarter, compared to 3.4 billion rupees for the same period the previous year.

The disappointing results were due to steep sales declines for Tata Motors' core business as well as results for Tata subsidiary Jaguar Land Rover, which saw its own quarterly profits drop by 25 per cent.

The company blamed weak economic conditions in India and around the world, competitive pricing pressures, and higher marketing and launch costs for a new line of Range Rover vehicles.

Organizations: Tata Motors, Jaguar Land Rover, Range Rover

Geographic location: India, MUMBAI

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