Land Rover Follow

India's Tata Motors, which recently completed the $2.4-billion purchase of Jaguar and Land Rover from Ford, reported a 30-percent decline in earnings in the quarter that ended June 30. It was its largest quarterly profit decline in at least five years, Bloomberg News reported. Tata, due to introduce its $2,500 Nano this fall, blamed soaring raw material costs for the income drop, which had been predicted by analysts.