Tata Motors hits lowest level since February 2016 on weak Q4 results

The stock plunged 8% to Rs 286, its lowest level since February 2, 2016 on the BSE in early morning trade

Tata Motors plunged 8% to Rs 286, its lowest level since February 2, 2016 on the BSE in early morning trade, after the Tata Group Company reported a consolidated net profit of Rs 21.75 billion against an average analysts estimates of Rs 42.30 billion for the March quarter (Q4FY18). The company’s profits for the March quarter nearly halved from Rs 43.36 billion in year ago quarter, due to higher expenses and a one-time impairment charge.

The consolidated income from operations at the firm rose to Rs 912.79 billion over Rs 787.46 billion in the year-ago quarter. The earnings are