Tata Motors cuts profit forecast after unexpected quarterly loss of $6.1 billion

The loss of 55.3 billion rupees (about SEK 6.1 billion) includes one-off items totalling 67 billion rupees, partly due to asset write-downs and staff cuts.

The average forecast was for a quarterly profit of about 15 billion rupees.

The forecast for the full-year profit margin at the unit that manufactures Jaguar and Land Rover has been lowered to 2-3 percent, from 4 percent.