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Jaguar drives on Tata profit
INDIA’S Tata Motors swept past forecasts with a fourth straight quarterly profit yesterday, driven by demand for its luxury Jaguar and Land Rover brands.
The company’s Jaguar and Land Rover unit, which Tata bought from Ford in 2008, is expected to fuel growth in coming quarters as demand for luxury brands increases, particularly in emerging economies. Tata Motors reported a consolidated net profit of 19.89bn rupees (£273m) for the quarter to 30 June, swinging back from a year-ago net loss of 3.29bn rupees.
Revenue rose to 270.56bn rupees from 164.73bn rupees last year.
The results boosted Tata’s shares to their highest level in at least two decades.