Tata Motors reports 263 crore loss in Q3 net profit

Tata Motors has reported a Rs. 263 crore loss in its net profit in the quarter ending December 2008. The sum is inclusive of the company’s 227 crore foreign exchange loss. The company also saw a 34 per cent fall in sales in the given period. Mr. Ravi Kant, the Managing Director of Tata Motors, said that the worst seemed to be over and that the company expected better results in the fourth quarter. This is the first time in seven years that Tata Motors has reported a quarterly loss.