Tata Motors profits jump as car sales move up

NEW DELHI (AP) — Tata Motors reports a 41 percent jump in third quarter consolidated profits driven by healthy sales of passenger vehicles in India.

Consolidated net profit for the quarter ending December was slightly over 34 billion rupees ($695 million), the company said Tuesday.

India's largest auto maker by revenue reported a 43.9 percent hike in its consolidated revenues in the third quarter with revenues going up to $9.23 billion from $6.41 billion a year ago.

The company also reported a 57 percent increase in profits for the quarter at its luxury brand, Jaguar Land Rover in the UK.

Share prices of the company were trading 5.36 percent higher on the Bombay Stock Exchange late afternoon Tuesday.