JLR Parent’s Profit Beats Estimate on Luxury Unit Rebound

Tata Motors Passenger Vehicles Ltd., the parent of Jaguar Land Rover, reported fourth-quarter earnings that exceeded analyst estimates, driven by a strong recovery at its luxury unit and improved sales in its India business.

Net income fell 32% to 57.8 billion rupees ($604 million) for the three months ended in March, according to a company filing Thursday but topped the average profit estimate of 43.51 billion rupees based on a Bloomberg survey of brokerages.