Tata Motors, India's largest automobile company, said a steep drop in consolidated net profit for the quarter ended December 2014. During the quarter, the profit of the company declined 25.48% to Rs 35,807.20 million from Rs 48,048.00 million in the same quarter last year.

The consolidated revenues (net of excise) of Rs 699.73 billion for the quarter ended Dec. 31, 2014, a growth of 9.6% over Rs 638.53 billion for the corresponding quarter last year, despite continuing weak operating environment in the standalone business which was more than offset by, increase in wholesale volumes, richer product mix and market mix at Jaguar Land Rover (JLR).

The sales (including exports) of commercial and passenger vehicles for the quarter ended Dec. 31, 2014, stood at 1,27,484 units, down by 3.5%, as compared to the corresponding quarter last year. The revenues (net of excise) for the quarter ended Dec. 31, 2014 stood at Rs 90.56 billion, as compared to Rs 77.7 billion for the corresponding quarter last year. Loss before and after tax for the quarter ended Dec. 31, 2014 was Rs 21.05 billion and Rs 21.23 billion, respectively, against Profit before and after tax of Rs 6.21 billion and Rs 12.51 billion, respectively, for the corresponding quarter last year.

Shares of the company declined Rs 31.65, or 5.37%, to trade at Rs 557.90. The total volume of shares traded was 348,872 at the BSE (10.10 a.m., Friday).