(Reuters) -Indian carmaker Tata Motors' shares plummeted about 9% to a 14-month low on Thursday, after its third-quarter results set off growth and margin concerns for its luxury Jaguar Land Rover (JLR) segment.

Passenger and commercial vehicle major Tata Motors on Wednesday posted a 22.4 per cent year-on-year (Y-o-Y) decline in net profit to Rs 5,451 crore for the third quarter of FY25 on muted revenue growth of 2.7 per cent to Rs 1,13,575 crore.

The homegrown auto player is set to announce its results for the period ended on December 31, 2024 later today.

Indian carmaker Tata Motors fell more than 7% in early trade on Thursday after reporting a bigger-than-expected drop in quarterly profit, which pushed a slew of brokerages to slash price targets on the stock.

Tata Motors reported a 22.5% decline in consolidated net profit for Q3 FY25, totaling ₹5,578 crore. Despite strong performance in the JLR segment, overall margins decreased. Revenue from operations rose by 2.

Tata Motors' shares traded 6.8% lower at Rs 701.40 on the BSE at 1:30 PM Thursday, recovering slightly from the days low of Rs 684.25. The companys profit fell 22% YoY to Rs 5,451 crore, missing estimates of Rs 6,

Tata Motors reported earnings for the December 2024 quarter, which missed estimates. This prompted global brokerage firm Jefferies to downgraded Tata Motors stock to "underperform" from its earlier rating of "buy".

Indian carmaker Tata Motors reported third-quarter profit below market expectations on Wednesday, weighed down by weakness in its luxury Jaguar Land Rover (JLR) business and as car sales slowed down at home.

Shailesh Chandra says in Q3, wholesales were at 140,000 units, up 1.1% YoY and retail sales grew 6%, which allowed the company to cut channel inventory

India's Tata Motors reported a 22% drop in third-quarter profit on Wednesday, significantly missing analyst estimates, hurt by weak performance at its Jaguar Land Rover (JLR) and domestic car businesses.