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Tata Motors Net Income Misses Estimates as Jaguar Sales Drop

Tata Motors Ltd. first-quarter profit missed analysts’ estimates as the owner of Jaguar Land Rover reported sales of its passenger cars in India fell and Jaguar deliveries declined.

Net income rose to 20 billion rupees ($441 million) in the three months ended June 30 from 19.9 billion rupees a year earlier, according to a statement from the Mumbai-based automaker yesterday. Profit lagged behind the 21.6 billion-rupee median of 32 analysts’ estimates compiled by Bloomberg. Sales increased 24 percent to 333.9 billion rupees.