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Automobiles

Tata Motors profit beats estimates on Jaguar Land Rover cost cuts

Company warns coronavirus outbreak in China could dampen luxury vehicle demand

Tata Motors, which derives the bulk of its revenue from the British brands, is barely recovering from the throes of a slowdown in China,

MUMBAI (NewsRise) -- Tata Motors reported a better-than-expected third-quarter profit, aided by unit Jaguar Land Rover, but warned that the coronavirus outbreak in China may damp the financial performance of the British luxury automaker in the current quarter.

Mumbai-based Tata Motors, which derives the bulk of its revenue from the marquee brand, is barely recovering from the throes of a prolonged slowdown in China, where a slowing economy and a trade dispute with the U.S. had wreaked havoc on vehicle demand. Jaguar Land Rover, which Tata acquired in 2008 from Ford Motor, last year announced a plan to cut about 10% of its workforce in a bid to pare costs and boost cash flows.

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