India's Tata Motors posts second straight quarterly profit

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It also declared its first dividend in nearly seven years, of 2 rupees per share

Nandan Mandayam, Reuters News

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Tata Motors Ltd, India's No.3 automaker by market share, reported a second consecutive quarterly profit on Friday, helped by price hikes and strong demand for cars in its luxury Jaguar Land Rover (JLR) stable as well as for commercial trucks.

The company posted a consolidated net profit of 54.08 billion rupees ($661.3 million) for the January to March quarter, compared with a loss of 10.33 billion rupees in the year-ago period.

It also declared its first dividend in nearly seven years, of 2 rupees per share. ($1 = 81.7800 Indian rupees) (Reporting by Nandan Mandayam in Bengaluru; Editing by Savio D'Souza)

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