On a standalone basis, the company reported a net profit of Rs 25.75 crore for the first quarter, down 91.11 per cent from Rs 289.84 crore in the year-ago quarter. But the 207 million pound forex charge pulled the profits down by 38 percent to 304 million pound as against 492 million pound that the luxury auto maker posted in the Q1 of the previous year.

On a consolidated basis, Tata Motors posted a net profit after tax, minority interest and share of profit of associates of Rs 2,260.40 crore for the period under review as compared to Rs 5,254.23 crore for the quarter ended June 30, 2015.

MUMBAI/NEW DELHI, Aug 26 (Reuters) - Foreign exchange losses after Britain's decision to leave the European Union and higher expenses offset strong sales growth at India's Tata Motors, more than halving its net profit in the April-June quarter.

The company officials said that there has been some movement in M&HCV; during the last 8-9 months due to an increase in infrastructure and construction activities in the county, though there was some dip in June-July and with a good monsoon combined with seventh pay commission release and better economic sentiments, the growth in auto sector may reach in double digits in the year ahead. "On top of that, JLR operating profit was also hit by lower local market incentives and higher depreciation and amortisation expenses".

Standalone net sales were at Rs 11,311.24 crore against Rs 10,262.76 crore in the year-ago period, up 10.21 per cent.

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The plea argued that pyramids could be taller as the participants were all above 18 years. The fresh plea has been filed by Mumbai-based Jai Jawan Krida Mandal Govinda Pathak.

"Higher volumes in both standalone as well as JLR business more than offset by the adverse foreign exchange impact of Rs.2,296 crore and adverse commodity derivatives impact of Rs.167 crore in the operating profit margin mainly in the JLR business", according to a statement from Tata Motors. Land Rover increased its USA spending on incentives and marketing promotions by about 53 per cent in the first six months, according to researcher Autodata Corp.

Revenues at Tata Motors' UK arm Jaguar Land Rover, which account for two-thirds of Tata Motors revenues, grew 10% to 5.5-billion pounds.

JLR wholesales (not including the China JV) stood at 1,20,776 units.

The Tata Motors stock price ended the day at Rs 514.25, 4 percent higher than its opening price on Friday.