MUMBAI (NewsRise) -- Tata Motors reported a surprise loss in the third quarter, as the automaker took a one-time impairment charge on certain assets of British luxury vehicle unit Jaguar Land Rover.
The consolidated net loss for the quarter ended in December stood at 269.9 billion rupees ($3.78 billion), compared with a profit of 11.99 billion rupees a year earlier, the company said in a statement. Analysts were expecting a profit of 7.72 billion rupees, according to Bloomberg data.
