(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.

JLR’s import business has performed relatively better than the overall market, with a nominal decline of 5% in the premium segment, compared to a 14% overall decline in the industry, stated PB Balaji,

Shares of Tata Motors on Thursday morning tumbled over 9 per cent after the firm reported a 22 per cent fall in consolidated net profit for the third quarter ended December 2024. The stock tanked 9 per cent to Rs 684.25 the 52-week low level on the BSE. At the NSE, it declined 9.20 per cent to Rs 683.20 the 52-week low level.

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.