News Summary: Tata profit up 10 percent
TAKING HIGH (END) ROAD: India's Tata Motors reported a 10 percent rise in quarterly profit as the strong global performance of Jaguar Land Rover masked lackluster results from Tata's core brand.
THE NUMBERS: Net income was 21.0 billion rupees ($387 million) in the July to September quarter. Sales rose 19 percent from a year earlier to 441.1 billion rupees ($8.1 billion), thanks to strong demand for Jaguar Land Rover vehicles, especially in China, which now accounts for over 20 percent of global sales.
HURTING AT HOME: Terrible economic conditions in India are undercutting demand for vehicles. That has hurt Tata's mainstay commercial vehicle sales especially hard. Rising fuel and tax rates paired with high interest rates have not helped. Tata has also spent heavily on developing new models and marketing even as price pressures intensify in India's cost-conscious market.