Tata Motors, India’s largest automotive player by revenue, on Wednesday missed analysts' expectations with a 50-percent year-on-year fall in its consolidated net profit for the March quarter to Rs 2,176.16 crore.
An average of estimates of 14 analysts polled by Reuters pegged the company's consolidated net profit to come in at Rs 4,041 crore. The fall in bottom line was primarily due to a Rs 1,641.38-crore impairment of capital work in progress.
Revenue from operations grew 16 percent on year to Rs 91,279.09 crore in the quarter under review. The Reuters poll had expected revenues to come in at Rs 89,507 crore.
The company's earnings before interest, tax, depreciation and amortisation (EBITDA) came in at Rs 11,250 crore, 3.7 percent higher than in the same quarter a year ago. EBITDA margin for the quarter contracted to 12.3 percent from 14 percent last year.
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