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Tata Motors expects up to $5.8 billion in capex for JLR
February 5, 2015 / 3:27 PM / 3 years ago

Tata Motors expects up to $5.8 billion in capex for JLR

The Jaguar logo is pictured at a Jaguar Land Rover showroom in Mumbai February 13, 2013. REUTERS/Vivek Prakash/Files

MUMBAI (Reuters) - Tata Motors Ltd (TAMO.NS) said it expects to spend between 3.6 billion pounds ($5.51 bln) and 3.8 billion pounds ($5.8 bln) on capital expenditure at its luxury Jaguar Land Rover (JLR) unit in the fiscal year starting April 1.

Tata, which bought JLR in 2008, expects EBITDA (earnings before interest, tax, depreciation and amortisation) margins at the unit to be lower in the next fiscal year compared to this year, Chief Financial Officer C. Ramamkrishnan said.

Tata, India’s biggest automaker by revenue, on Thursday posted a 25.5 percent fall in net profit for the October-December quarter, missing analyst estimates.

($1 = 0.6539 pounds)

Reporting by Aman Shah; Editing by Sumeet Chatterjee

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