- Faster growth at JLR sends Tata Motors Q2 net up 71%Tata Motors' Jaguar Land Rover H1 profits hit a first-timer, up phenomenally at over £1 bnInsider trading in US: Another Indian in Preet Bharara's net for sharing info on Microsoft Corp, YahooMCX-SX derivative turnover climbs 54 pct, cash segment up 13 pct
Shares in Tata Motors Ltd fall 1.7 percent after operating profit margins at its key unit Jaguar Land Rover Ltd (JLR) for the July-September quarter missed estimates when adjusted for one-time tax incentives.
JLR's reported operating margins were 17.8 percent. Excluding a one-time local tax incentive of 79 million pounds ($126.4 million), it stood at 16.1 percent, as per a presentation posted on its web site.
"At the outset, it seemed that F2Q14 was as a stellar quarter but as we adjust for one-offs, it comes down to an in-line quarter at net level and JLR EBITDA was tad below expectations," said Morgan Stanley in a report on Monday.
"Given that F2Q14 has been a quarter full of beats across auto names, an in-line result could be taken as a disappointment by the Street thus we could get better entry points into the stock," it said.