Shares of Tata Motors today rose 2 per cent even as the company reported 57 per cent decline in consolidated net profit for the first quarter ended June 30, 2016-17.
The scrip gained 2.01 per cent to settle at Rs 503.65 on BSE. During the day, it jumped 4.3 per cent to Rs 515.
The scrip was top gainer among the 30-Sensex components.
On NSE, it rose by 2 per cent to end at Rs 503.75.
Tata Motors today reported 57 per cent decline in consolidated net profit at Rs 2,260.40 crore for the first quarter ended June 30, due to post Brexit adverse foreign exchange impacting its British arm JLR.
The company had posted profit of Rs 5,254.23 crore in the same period last fiscal.
Net sales in the first quarter of the current fiscal were up 10 per cent at Rs 66,101.27 crore as against Rs 60,093.79 crore in the year-ago period.
The company said higher volumes in both standalone as well as Jaguar Land Rover business more than offset by the adverse forex impact of Rs 2,296 crore and adverse commodity derivatives impact of Rs 167 crore in the operating profit mainly in the JLR business.
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