Tata Motors Reports Solid Revenue, but Profits Take Currency Hit; INR 550 FVE Unchanged
Narrow-moat-rated Tata Motors reported first-quarter fiscal 2017 EPS of INR 5.22, a dramatic INR 1.53 below the market consensus EPS of INR 6.75 and 41% lower than the year-ago EPS result of INR 8.79. Even so, the stock reacted positively with a 2% higher bid, as revenue of INR 661.0 billion was 2% better than the consensus forecast and 10% higher than first-quarter fiscal 2016. The unfavorable swing in the British pound was the main driver behind the earnings shortfall. Volume increases across ...
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