Jaguar Land Rover boosts Tata motors profit

Profit for the quarter was $407.4m, less than expected.

India's top vehicle maker said on Thursday that exceptional foreign exchange losses due to the depreciation of the rupee hurt earnings.

Strong sales at Tata subsidiary Jaguar Land Rover drove revenue up 30.1% from a year earlier to $7.8bn.

Its domestic business fared less well. Tata sold nearly 10% fewer passenger vehicles in India than it did a year earlier. Stand-alone revenue fell 8.9% to $1.9bn.

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