Indian multinational auto maker Tata Motors Limited has reported its results for the fourth quarter (Q4FY18) on Wednesday. It has posted net profit of Rs. 2,175.16 crores for the period ended March 31, 2018 versus Rs. 4,336.43 crores for the period ended March 31, 2017. It shows a decline in consolidated net profits for Q4FY18 by 50 percent in comparison to the year ago period at Rs. 2,175 crore.
The fall in net profits arrived largely on account of a drop in sales volume in the U.K which witnessed a fall of about 12 percent.
The global broking firm CLSA, has maintained a ‘Sell’ call on the stock and at the same time reduced its target price from Rs. 330 to Rs. 295. Other brokerage firms have maintained a mixed view regarding the Tata Motors stock, while Jefferies holds a ‘Buy’ rating and Morgan Stanley maintains an ‘Equal Weight’ rating for Tata Motors.
In the morning session, Tata Motors’s stock was trading down by 6.47% on Thursday. At the time of reporting, the stock of Tata Motors was quoting 4.43% lower at Rs. 168.20 on the NSE.
For Free Stock Tips, Subscribe our Services