Jaguar Land Rover boosts Tata Motors profit

5:13 AM, Aug 9, 2012   |    comments
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MUMBAI, India -- Tata Motors says June quarter profits rose 12 percent as strong sales of its Jaguar Land Rover vehicles made up for lackluster domestic demand.

Profit for the quarter was 22.5 billion rupees ($407.4 million), less than expected.

India's top vehicle maker said Thursday that exceptional foreign exchange losses due to the depreciation of the rupee hurt earnings.

Strong sales at Tata subsidiary Jaguar Land Rover drove revenue up 30.1 percent from a year earlier to 433.2 billion rupees ($7.8 billion).

Its domestic business fared less well. Tata sold nearly 10 percent fewer passenger vehicles in India than it did a year earlier. Stand-alone revenue fell 8.9 percent to 105.9 billion rupees ($1.9 billion).

The Associated Press

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