Tata Motors shares dropped over 8% after Q4 evaluation

May 24 2018 02:20 PM
Tata Motors shares dropped over 8% after Q4 evaluation

On Thursday, the shares of Tata Motors have been dropped over 8 percent. Today, the incident took place after the company reported 49.82 percent decline in consolidated net profit for the March quarter.

According to the reports in TOI, the stock of Tata Motors have been opened on a weak note and further in the mic of the day collapsed 7.93 per cent to Rs 284.70 on BSE. It is stated as the 52-week low.

While on NSE, the shares of the company shattered on 8.19 percent to beat a one-year low of Rs 284.10. During the morning trade, both the stocks were the top losers in the key indices. 

Yesterday, the homegrown auto major Tata Motors announced 49.82 percent deterioration in consolidated net profit at Rs 2,176.16 crore for the March quarter. Apart from this, its British arm JLR continuing to face challenges in the UK and Europe, in addition to the one-time impairment charge, reports TOI.

During a BSE filing, Tata Motors said that the company has posted a consolidated net profit of Rs 4,336.43 crore in the corresponding period of last fiscal. Its consolidated income from operations in the fourth quarter of 2017-18 was Rs 91,279.09 crore. It was at Rs 78,746.61 crore in the year-ago quarter.

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