Tata Motors net profit falls 30 pc

Mumbai, July 31, 2008 : India"s top vehicle maker, Tata Motors Limited, saw its June quarter profit drop 30 percent, in line with forecasts, on foreign exchange losses and as rising input costs squeezed margins.

Tata Motors, which is due to launch the world"s cheapest car, Nano around October expects margins to remain under pressure due to costs of inputs. As per officials, company sold a 24 percent stake in its auto part unit and booked a profit of 1.14 billion rupees in the quarter end June 30.

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