BBC Business News reports that Tata Motors has said its annual net profits have more than halved after the global economic slowdown hit demand for its cars and trucks.
India’s largest vehicle maker made 10.1bn rupees ($214m; £133m) in the year to the end of March, down from 20.29bn rupees a year earlier.
The company described the October to December quarter as “really, really bad”, but said sales were improving. Full story…
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