Tata Motors posts 96% profit plunge

India’s Tata Motors on Tuesday reported a worse than expected 96 per cent fall in net profit for its third quarter, citing slow growth in sales at its British luxury carmaker Jaguar Land Rover and losses in its domestic business. Consolidated net profit for the three months to December 31 was 1.12 billion rupees ($16.73 million) compared with 29.53 billion rupees a year earlier.