Tata Motors shares down 9.35% as profit shrinks 96% in Q3

The shares of Tata Motors were trading down 9.35% on Thursday after the domestic carmaker's net profit shrunk 96% in the December 2016-ending quarter. 

The homegrown company's share price fell to an intraday low of Rs 441.25 apiece, down 9.35% from the previous day's close. On Wednesday, Tata Motors' shares had closed at Rs 486.80 apiece. 

Tata Motors' reported 96.22 per cent decline in consolidated net profit to Rs 111.57 crore for the December quarter, dragged down by losses in domestic operations and lower profit of its British arm JLR. It had posted net profit of Rs 2,952.67 crore in the same quarter of last fiscal, Tata Motors said in a BSE filing.

At 1111 hours, its shares were trading at Rs 446.50 per share, down Rs 40.30 or 8.28% from previous close. 

At the time, the 30-share BSE Sensex was trading at 28,280.90, down 58.41 points or 0.21% from previous close.