Tata Motors Q2 profit falls 7.1 per cent on weak domestic sales, lags estimates

Tata Motors, the country's biggest automaker by revenue, on Friday reported a 7.1 per cent fall in its second quarter profit, missing analysts estimate after weak sales in its domestic business.

The automaker's net profit fell to Rs 3,291 crore (US $533 million) in the second quarter ended September 30, 2014, from Rs 3,542 crore in the corresponding period a year ago, Tata Motors said.

The company's revenue rose 6.5 per cent to Rs 60,164 crore.

Excluding exports, sales of its commercial and passenger vehicles fell by 15.7 per cent during the reporting quarter in the current financial year versus FY14.

Tata Motors has been banking on sales by luxury British carmaker Jaguar Land Rover (JLR), which it bought in 2008, to prop up profits for the past few years.

Analysts on average expected the company to post a profit of Rs 4,620 crore and revenue of Rs 63,428 crore, according to Thomson Reuters I/B/E/S.

(Reuters)