Jaguar owner smashes profit projections in Q2

Tata Motor’s net income was €354 million the three months to June, up from a loss of €553 million a year earlier

Luxury unit Jaguar Land Rover posted a quarterly profit before tax of £435 million (€507 million), compared with a loss of £524 million the year before. Picture: Getty

The owner of Jaguar Land Rover has beat expectations in its first-quarter results, with the sale of luxury cars increasing as supply-chain constraints eased.

Tata Motor’s net income was 32 billion rupees (€354 million) in the three months through June, compared with a loss of 50 billion rupees a year earlier, the Mumbai-based company said in a statement on Tuesday. Analyst estimates on average were for net profit of 24.5 billion rupees.

Luxury unit Jaguar ...