JLR to make profits in two years: Ravi Kant

Tata Motors has said its British luxury auto brands Jaguar and Land Rover (JLR), which have posted over Rs 1,700 crore annual losses, will turn profitable in two years.

The company's Vice-Chairman Ravi Kant said the acquisition of the two marques was not over-priced.

"You can't say that the price we paid for was over-priced. In fact out of $2.3 billion that we paid for it, $600 million went to the pension fund. So Ford actually got only $1.7 billion. So I don't think we over pay for it," Kant said.

He said the two iconic brands would come back on track and would start making profits again within two years.

"I am quite sure and very positive that in two years time, when this company starts making profits, then we can have this discussion again and find out whether we over paid for the acquisition of this company," Kant said.