Tata Motors Q4 net dips by 56 per cent

Mumbai: Tata Motors Group’s March quarter net profit declined by 56.2 per cent to 1,716 crore due to massive asset write- downs, 220- million pound forex loss and poor show by its cashcow British arm. The company had reported a consolidated net profit of 3,918.29 crore in the same quarter previous fiscal. The Tata Group company, which is the country’s largest automaker by revenue, has to incur 3,857 crore in amortisation and depreciation expenses during the quarter under review against 3,125 crore a year ago.