Tata Motors and Tech Mahindra lost Rs 161.10 billion in market value on Wednesday due to weak quarterly earnings that missed analyst estimates and triggered sharp share price correction.

For the March 2015 quarter, Tata Motors reported a decline of 56.20% in net profit to Rs 17.16 billion, due to drop in margins. Analysts expected Tata Motors to report a profit of Rs 40.30 billion. Consolidated net revenues for the quarter went up 3.46% at Rs 675.76 billion.

Tech Mahindra reported a fall of 23.13% in consolidated net profit for the quarter ended Mar. 31, 2015 to Rs 4.72 billion, due to steep fall in margins. Analysts had predicted net profit at Rs 7.13 billion. Total income went up 21.73% during the quarter to Rs 60.52 billion.

At the BSE, Tata Motors plunged 5.12% to settle at Rs 471.65 today. The sharp fall in share price made Tata Motors' investors poorer by Rs 73.48 billion. Tata Motors market value went down to Rs 1,355.78 billion from Rs 1,429.26 billion on Tuesday.

On the other hand, Tech Mahindra crashed 14.24% to close at Rs 549.35. The sharp fall in share price wipe out Tech Mahindra'' investors wealth by Rs 87.62 billion. Tech Mahindra market value declined to Rs 528.12 billion from Rs 615.74 billion yesterday.