(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.

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.

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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.

Consolidated net profit of India’s largest automaker by revenue fell 22% year-on-year to Rs 5,451 crore even as revenue rose 2.7% 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.

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 has reported a massive 22% year-on-year drop in its consolidated net profit for the third quarter of FY25. The company's net profit stood at ₹5,451 crore, missing analysts' estimates. The downturn is attributed to weaker margins and slowdown in Jaguar Land Rover (JLR) sales.