Tata Motors Profit Misses Estimates on Costs, Currency Loss
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Tata Motors Ltd., the maker of the world’s cheapest car Nano, posted a 15 percent drop in profit as raw material costs surged and because of currency losses.
Second-quarter net income declined to 18.8 billion rupees ($371 million) from 22.2 billion rupees a year earlier, Tata Motors said in a statement yesterday. Profit lagged behind the