Tata Motors misses estimates with 12 pct rise in Q1 net

TATA-MOTORS-QUARTERLY-RESULTS:Tata Motors misses estimates with 12 pct rise in Q1 net

Tata Motors posted a 12 percent rise in first-quarter net profit, falling below expectations, as a jump in sales at its Jaguar Land Rover (JLR) subsidiary offset falling profit at its domestic business.

Shares in the India's biggest truck and bus maker extended falls after the announcement, losing as much as 4 percent.

Tata Motors, part of the $83 billion salt-to-steel conglomerate, said net profit for the quarter ended in June was 22.45 billion rupees, up 1 2 .3 percent from the previous year, with revenue up 30.1 pe r cent at 433.2 billion rupees.

Analysts, on average, expected net profit of 27.61 billion rupees on revenue of 429.4 billion rupees, according to Thomson Reuters I/B/E/S.