Tata Motors Q1 Results: Profit Plunges 63% But Meets Estimates

Tata Motors Ltd.'s consolidated net profit dropped 63% in the June quarter but still met the Street's expectations.

The Nexon maker's profit fell to Rs 3,924 crore in the three months ended June on the back of revenue that also declined 2.5% year-on-year to Rs 1.04 lakh crore, according to an exchange filing on Friday. Analysts polled by Bloomberg had estimated the top line at Rs 1.01 lakh crore and the bottom line at Rs 3,972.1 crore.

• Revenue down 2.5% to Rs 1.04 lakh crore versus Rs 1.07 lakh crore (Bloomberg estimate: Rs 1.01 lakh crore)

• Ebitda down 35% to Rs 9,724 crore versus Rs 14,972 crore (Estimate: Rs 10,717.6 crore)

• Ebitda margin at 9.3% versus 14% (Estimate: 10.5%)

• Net profit down 63% to Rs 3,924 crore versus Rs 10,514 crore (Estimate: Rs 3,972.1 crore)