Tata Motors Makes Progress in Fiscal 2018 3Q Results; INR 570 FVE Unchanged
Narrow-moat-rated Tata Motors, which is India's largest commercial truck producer and owns the Jaguar and Land Rover luxury brands, reported fiscal 2018 third-quarter diluted EPS of INR 3.61, a dramatic INR 3.25 increase relative to the year-ago EPS of INR 0.36. We had been expecting fiscal 2018 second-half margin improvement as new model launches ramp-up to normalized production levels, including six new JLR models and six new Tata commercial and passenger utility products, but third-quarter ma...
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