Tata Motors FY09 net down 51%

Mumbai: Tata Motors Ltd, India's top vehicle maker, reported a smaller-than-expected 50.7 per cent drop in full-year profit as sales picked up in the March quarter and raw material prices fell.

The company, which controls about 60 per cent of the world's fifth-biggest truck and bus market, said net profit fell to Rs 1001 crore ($212 million) in the fiscal year ended March from Rs 2029 crore a year earlier.

Revenues fell 10.7 per cent to Rs 25660 crore from Rs 28740 crore.

Reuters Estimates had forecast net profit at Rs 267 crore on revenue of Rs 25060 crore.

More Q4 results

Tata Motors had bought Ford Motor Co's Jaguar and Land Rover brands for $2.3 billion last year.

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