Tata Motors shares fall 5 per cent as Q4 net profit plunges

Tata Motors shares fell over 5.5 per cent on Wednesday after the company's net profit more than halved in the January-March quarter.

India's biggest automaker by revenue reported a surprise 56 per cent drop in its March quarter net profit on Tuesday, hit by cooling demand for its sleek Jaguar saloons and sporty Range Rovers in the key Chinese market.

Tata Motors has reported a net profit of Rs 1,717 crore for the quarter under review against Rs 3,918 crore in the corresponding period last year.

Net sales of the company, however, rose 4 per cent to Rs 67,298 crore during the January-March 2015 period.

Shares of the company closed at Rs 471.65 apiece on Wednesday, down by 5.12 per cent.

(Reuters)