The net profit of Tata Motors rose three times year on year in the July-September quarter to Rs 2,502 crore, the company said on Thursday. The Tata Group company had reported net profit of Rs 848 crore in the same quarter in 2016.
Analysts had expected the company to report a net profit of Rs 1,499 crore, according to Reuters.
The better-than-expected performance of its United Kingdom subsidiary Jaguar-Land Rover led the strong growth. JLR saw strong demand for its new models, such as the Range Rover Velar, the company said in an exchange filing.
It alone contributed 6.3 billion pounds (Rs 53,587 crore) to the total revenue of Tata Motors, which was Rs 70,156 crore. The revenue grew 10% year on year.