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Tata Motors posts surprise profit jump on Jaguar Land Rover one-time gain

British luxury unit helped offset a loss in its Indian operations

NEW DELHI (NewsRise) -- Tata Motors Ltd., the owner of Jaguar Land Rover, reported a surprise 42% jump in consolidated quarterly net profit after a one-time gain at its British luxury unit helped offset a loss in its Indian operations.

The Mumbai-based auto maker posted a net profit of 32 billion rupees ($501 million) in the quarter ended June 30, up from 22.6 billion rupees a year earlier. A Thomson Reuters poll of analysts had forecast a profit of 15.39 billion rupees.

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