Tata Motors shares down 3% after 51% drop in Q4 profit

Mumbai: Shares of Tata Motors on Wednesday dropped 3 per cent after the firm reported a 51 per cent decline in consolidated net profit for the March quarter.

The company’s stock declined 3 per cent to Rs 686 apiece on both the BSE and NSE.

Tata Motors on Tuesday reported a 51 per cent decline in consolidated net profit to Rs 8,556 crore for the March quarter, hit by lower volumes and operating leverage.

The auto major had posted a consolidated net profit of Rs 17,528 crore in the same quarter of the previous fiscal year, Tata Motors said in a regulatory filing. – PTI