Tata Motors falls 12% in two days on disappointing Q3 results

The stock dipped 9% to Rs 441 in intra-day trade, extending its Tuesday's 3.5% decline on the BSE

Tata Motors dipped 9% to Rs 441 in intra-day trade, extending its Tuesday’s 3.5% decline on the BSE, after the country’s largest automobile company by revenue reported disappointing set of numbers for the quarter ended December 2016 (Q3FY17).

The consolidated net profit during the quarter under review plunged by 96% to Rs 112 crore due to a steep decline in profit at its overseas unit Jaguar Land Rover (JLR) and higher losses in domestic operations. The company had reported consolidated profits of Rs 2,953 crore in the third quarter (Q3) of FY16.

The company’s consolidated revenues during the