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Tata Motors Roars Ahead After Upbeat Fiscal Q2 Earnings 

Published 10/25/2019, 11:19 AM
Updated 10/25/2019, 11:20 AM
© Reuters.

Investing.com - U.S.-listed Indian car company Tata Motors (NYSE:TTM) surged in midday trade on Friday after its U.K. unit made a profit for its fiscal second quarter.

The company said its revenue was boosted by a 24.3% increase in China, to a total of £6.1 billion ($7.83 billion). Its Jaguar Land Rover range helped it post strong earnings last quarter.

“With £2.2 billion efficiencies achieved to date, Jaguar Land Rover remains on track to achieve the full targeted £2.5 billion by 31 March 2020 and further improvements beyond then," the company said in a statement.

Shares of the company skyrocketed 12%, while elsewhere in the sector Ford Motor (NYSE:F) rose 0.9% and General Motors (NYSE:GM) was up 1.4%.

Latest comments

Very strong & good efforts by Tata’s, keep going.I think now it is time for EV & should take technological investment from US to push small EV in the markrt within short period as there is no competion yet.TATA’s can do well before any one else
good thing
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