New Delhi: Shares of Tata Motors on Thursday tumbled over 8 per cent after the company reported 49.82 per cent decline in consolidated net profit for the March quarter.
The stock opened the day on a weak note and further slumped 7.93 per cent to Rs 284.70 -- its 52-week low -- on BSE. On NSE, shares of the company cracked 8.19 per cent to hit a one-year low of Rs 284.10.
The stock was the top loser on both key indices during morning trade. Homegrown auto major Tata Motors yesterday reported 49.82 per cent decline in consolidated net profit at Rs 2,176.16 crore for the March quarter with its British arm JLR continuing to face challenges in the UK and Europe, in addition to one-time impairment charge.
It had posted consolidated net profit of Rs 4,336.43 crore in the corresponding period of last fiscal, Tata Motors said in a BSE filing. Its consolidated income from operations in the fourth quarter of 2017-18 was Rs 91,279.09 crore. It was at Rs 78,746.61 crore in the year-ago quarter.