Tata Motors share price declined 8% in the morning trade on Thursday following the automaker’s Q3 results wherein it reported a double-digit fall in profit.

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

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,

Results: Tata Motors' third-quarter profit declined 22% year-over-year to INR 5,451 crore. Revenue, however, saw a 3% year-over-year increase, reaching INR 1.13 lakh crore.

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 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.

Results: Profit fell short of ET Now's estimate of Rs 6,791 crore, while revenue rose 3% YoY to Rs 1.13 lakh crore. Consolidated EBITDA rose to Rs 15,500 crore, driven by easing supply challenges. CV revenues fell 8.

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.