Tata Motors's Shares Fall As Core Earnings Fail To Impress

Emkay Research also said Tata Motors missed its EBITDA estimate.

Tata Motors's Shares Fall As Core Earnings Fail To Impress

Consolidated net loss narrowed to 9.45 billion Indian rupees ($115.83 million) in the quarter.(File)

Bengaluru:

Shares of Tata Motors fell nearly 5% on Thursday, a day after the automaker reported second-quarter core earnings that at least two analysts said missed estimates due to higher expenses.

The company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 95% sequentially in the July-September quarter and 53% from a year earlier, but were 14% below its estimate, brokerage Jefferies said in a note.

Emkay Research also said Tata Motors missed its EBITDA estimate.

However, the company's consolidated net loss narrowed to 9.45 billion Indian rupees ($115.83 million) in the quarter from a loss of 44.42 billion rupees a year ago.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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