World Economy

Tata Profits Dented

Tata Profits DentedTata Profits Dented

India’s Tata Motors reported a surprise drop in quarterly net profit, hit by heavy investment at its British luxury subsidiary and higher taxes, AFP reported. Consolidated net profit slipped to 32.91b rupees ($533.82m) in the three-months-to-September from 35.42b rupees a year ago. The earnings significantly undershot a consensus market profit forecast of 46.2-billion rupees.