Tariffs drive 63% profit slump at Tata Motors
Tata Motors has posted a 63% fall in quarterly profit, Reuters reports, its fourth straight decline, as U.S. import duties wiped £254 million ($341 million) from April–June earnings.
The tariffs, along with the phase-out of UK-built Jaguar Land Rover (JLR) models, hit both profit and cash flow.
Overseas JLR sales fell 11% due to the export halt and model changes. The company kept its JLR forecast unchanged, citing a U.S.–UK trade deal in May expected to ease the tariff impact.
Chief financial officer P.B. Balaji said China’s rare earth magnet export ban had not affected operations and contingency plans were in place.
Quarterly profit fell to 39.24 billion rupees ($448 million) from a restated 105.14 billion a year earlier, which included a one-off gain. Revenue slipped 2.5% as sales slowed.
Mr Balaji expects conditions to remain challenging but sees potential improvement with tariff clarity and festive demand.
