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Tata Motors: Margin, volume concerns can cap upside
Buoyed by emerging market sales at Jaguar Land Rover (JLR) and a one-off deferred tax credit, Tata Motors’ consolidated profit for the March quarter surged 136 per cent y-o-y to Rs 6,234 crore. Adjusted for deferred taxes, profits jumped 70 per cent to Rs 4,500 crore, higher than the Rs 4,270-crore estimates. Aided by a 29 per cent rise in JLR volumes, consolidated sales, at Rs 50,000 crore,
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