Shares of Tata Motors rise after revenue fell less than expected, Jaguar Land Rover makes a profit


The U.S.-listed shares of Tata Motors Ltd. TTM,
+ 4.63%

+ 0.71%
After the Indian automaker posted lower-than-expected fiscal second-quarter revenue on Tuesday, the Jaguar Land Rover division posted a profit for the quarter. Revenue for the quarter fell 18.2% to INR 535.30 billion ($ 7.26 billion), but surpassed the FactSet consensus of INR 528.77 billion. For the Jaguar Land Rover (JLR) unit, revenues rose 52.2% sequentially, but were down 28.5% from a year ago. JLR generated a profit of £ 65 million ($ 84.8 million), compared to a loss of £ 413 million in the previous quarter, but down from a profit of £ 156 million a year ago. “A gradual improvement in sales is expected to continue and will be supported by new and updated products, including the short wheelbase Land Rover Defender 90, the revamped Jaguar F-PACE and the 2021 Model Range Rover Velar, Jaguar XF and Jaguar XE.” , the company said in a statement. “In addition, Jaguar Land Rover continues to expand its electrification offering across its model range.” The stock was up 40.2% in the past three months, while the S&P 500 SPX,
gained 5.1%.


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