Tata Motors Posts a Profit, Shares Rise

Tata Motors (TTM) posted quarterly earnings of 19.9 billion rupees ($430 million) in the second quarter, after a loss of 3.3 billion rupees in the year-ago quarter.

Consolidated net revenues jumped 64.2% from a year earlier to 271 billion rupees, the company said in a statement.

"Overall economic growth, robust IIP [industrial production] and availability of liquidity led to strong domestic demand in the quarter, resulting in volume growth for all vehicles," the statement said.

Monthly car sales in India hit a record high of 158,764 in July, and the industry is expected to continue growing thanks to economic growth, low penetration and readily-available credit.
Read Full Story

Markets

DJIA 21,514.19 -65.88 -0.31%
NASDAQ 6,386.71 -1.05 -0.02%
S&P 500 2,467.37 -5.17 -0.21%
NIKKEI 225 19,975.67 -124.08 -0.62%
HANG SENG 26,846.83 140.74 0.53%
DAX 12,216.67 -23.39 -0.19%
USD (per EUR) 1.16 0.00 -0.36%
USD (per CHF) 0.95 0.00 0.18%
JPY (per USD) 111.11 0.16 0.15%
GBP (per USD) 1.30 0.00 0.20%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.