Bengaluru: Tata Motors Ltd on Thursday posted a loss for the third-quarter, hurt by an impairment charge for its luxury car unit Jaguar Land Rover. The automaker's loss came at ₹26,993 crore ($3.78 billion) for the three months ended 31 December, compared with a profit of ₹1,199 crore in the year-ago period. While Tata Motors has announced plans to turn around JLR, the slide in the unit's sales has continue for now. Tata Motors has been facing a decline in sales in India as well. This comes after the ratings agency placed the credit ratings of JLR, Britain's biggest carmaker, under review for possible downgrades.

Source: Mint February 07, 2019 10:49 UTC