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Tata Motors Ltd, India's biggest automaker by revenue, on Friday reported a 7.1 per cent drop in its second quarter profit, missing analysts estimate after weaker sales in its domestic business.
Net profit fell to Rs 3,291 crore ($533 million) in the second quarter ended Sept. 30 from Rs 3,542 crore a year earlier, Tata said. Revenue rose 6.5 per cent to Rs 60,164 crore.
Excluding exports, sales of its commercial and passenger vehicles fell 15.7 per cent during the quarter versus last year.
Tata Motors has been reliant on sales by luxury British carmaker Jaguar Land Rover (JLR), which it bought in 2008, to prop up profits for the past few years.
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