Tata Motors posts consolidated qtrly profit

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Tata Motors , India's top vehicle maker, unexpectedly posted a consolidated profit for the September quarter, helped by tighter control of costs and gains from investments in associate firms.

The company, owner of the UK-based Jaguar and Land Rover brands, on Friday reported a consolidated net profit Rs 217.8 million (USD 4.7 million) for its fiscal second quarter ended September.

In the year-earlier period, the company posted a consolidated net loss of 9.42 billion rupees.

The firm reported a net loss from ordinary activities of 21.5 million rupees.

In October, Tata Motors reported a standalone net profit for its Indian operations, which have about 60% of the world's fifth-biggest truck and bus market, of 7.29 billion rupees.

Shares in Tata Motors, valued at USD 7.3 billion, ended 0.8% lower at 629.50 rupees, while the benchmark BSE index fell 1.3%.