Tata Motors fourth-quarter profit halves, lags estimate

India`s Tata Motors Ltd said on Wednesday fourth quarter profit halved, coming in sharply below estimates.

Net profit fell to 21.25 billion rupees ($310.74 million) for the January to March quarter, versus 42.96 billion rupees a year ago.

Fourteen analysts polled by Thomson Reuters had expected the company to post a net profit of 38.40 billion rupees.

Income from operations for the quarter rose 15.9 percent to 912.79 billion rupees.