- MUMBAI: India's Tata Motors says Jaguar and Land Rover have swung to profitability in the December quarter, driving the company to a consolidated quarterly profit of Rs.6.5 billion ($141 million), compared to a year-earlier loss of Rs.26 billion ($564 million).
“It's finally starting to pay off for Tata Motors,” said Chief Financial Officer C. Ramakrishnan.
Jaguar Land Rover posted an after-tax profit of 55 million pounds ($83.6 million) for the October-December quarter, following a 60 million pound ($91.2 million) loss in the prior quarter, thanks to aggressive cost cutting and an 18 percent pickup in retail sales.
Reviving sales in China, Europe, Russia and North America overcame falling volumes in Britain, the company said.