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Tata Motors fiscal Q3 profit falls YOY

Tata Motors Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, amounted to 3.62 billion rupees, a fall of 85.9% from 25.63 billion rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 0.5% from 3.5% in the year-earlier period.

Total revenue decreased 6.5% year over year to 675.31 billion rupees from 722.56 billion rupees, and total operating expenses came to 666.00 billion rupees, compared with 672.16 billion rupees in the year-earlier period.

Reported net income totaled 937.7 million rupees, compared with 35.08 billion rupees in the prior-year period.

As of Feb. 14, US$1 was equivalent to 66.85 Indian rupees.