Tata Motors is back in the profit game as its quarterly profit is up on the back of surging sales at its luxury Jaguar brand.
Net income was 8.28 billion rupees (USD123 million) in the 3 months through September, compared with a loss of 17.6 billion rupees a year earlier, Tata said in a statement this Monday. That compares with the 27.6-billion-rupee average of analysts’ estimates.
The Jaguar Land Rover unit posted a profit of 244 million pounds (USD305 million). Jaguar’s sales surged 84% in the quarter on demand for the all new XE sedan and all new F-Pace SUV.
