Tata Motors' fourth quarter profit slumps as Jaguar Land Rover sales hit

FILE PHOTO: Workers set up the booth for British car manufacturer Jaguar Land Rover's Jaguar brand inside the National Exhibition and Convention Center, the venue for the upcoming China International Import Expo (CIIE), in Shanghai, China October 28, 2018. China Daily via REUTERS

BENGALURU (Reuters) - Tata Motors Ltd reported a 47% drop in quarterly profit on Monday as the Indian automaker struggled to sell its luxury Jaguar Land Rover (JLR) cars in key markets like China, and was also hit by a broader economic slowdown at home.

India's biggest automaker by revenue earned 11.17 billion rupees (£125.69 million) in net profit for the three months ended March 31, its fourth quarter, versus 21.25 billion rupees a year earlier when it took in a one-off charge of 16.41 billion rupees.

Revenue from wholly owned subsidiary Jaguar Land Rover Automotive PLC fell 5% to 651.46 billion rupees. The unit brings in most of Tata's revenue.

(Reporting by Nivedita Bhattacharjee and Chris Thomas; Editing by Christopher Cushing and Susan Fenton)