May 23, 2018 / 11:15 AM / a month ago

India's Tata Motors Q4 profit halves, lags estimate

May 23 (Reuters) - India’s Tata Motors Ltd said on Wednesday fourth quarter profit halved, coming in sharply below estimates.

Net profit here fell to 21.25 billion rupees ($310.74 million) for the January to March quarter, versus 42.96 billion rupees a year ago.

Fourteen analysts polled by Thomson Reuters had expected the company to post a net profit of 38.40 billion rupees.

Income from operations for the quarter rose 15.9 percent to 912.79 billion rupees. ($1 = 68.3850 Indian rupees) (Reporting by Krishna V Kurup in Bengaluru; Editing by Himani Sarkar and Adrian Croft)

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