Tata Motors more than doubles its Q2 net profit

• Source: Global Times
• [17:20 October 27 2009]
• Comments

Tata Nano

India's largest automaker Tata Motors Ltd Monday reported a more than two-fold jump in its net profit for the second quarter.

Net profit for the quarter that ended September 30 grew to 7.29 billion rupees ($157 million) from 3.47 billion rupees ($74.5 million) a year earlier.

Tata made gains from lower material costs, better vehicle home sales and lower foreign exchange losses.

The earnings didn’t  include those of Jaguar and Land Rover, which Tata Motors acquired last year from Ford Motor Co.

Tata said its total vehicle sales, including exports, rose 17 percent to 158,575 vehicles during the three-month period.

Tata Safari

The Nano minicar, the world's cheapest car, the Indica Vista hatchback, the Indigo Manza sedan and the Safari sports-utility vehicle are produced by Tata.

Agencies and Shi Jierui contributed to this story