India's Tata Motors reported a 17 percent fall in fourth-quarter net profit on Tuesday as losses in its domestic business outweighed strong sales at luxury British arm Jaguar Land Rover (JLR).
Consolidated net profit for the three months to March 31 fell to 43.36 billion rupees ($668.72 million) from 52.11 billion rupees a year earlier. Total income from operations fell 2.6 percent to 789.81 billion rupees.
Analysts had expected a profit of 26.95 billion rupees, according to Thomson Reuters data.
"We have missed our objectives and we have not been able to live up to our expectations," CEO Guenter Butschek told reporters in Mumbai, referring in part to the fact the company had not managed to launch some vehicles on time.
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