(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' shares traded 6.8% lower at Rs 701.40 on the BSE at 1:30 PM Thursday, recovering slightly from the days low of Rs 684.25. The companys profit fell 22% YoY to Rs 5,451 crore, missing estimates of Rs 6,

The homegrown auto player is set to announce its results for the period ended on December 31, 2024 later today.

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.

Tata Motors shares: For the auto giant, the outlook remains dim. Tata Motors reported another muted quarterly performance as net profits dropped by 22% year-on-year (YoY) to Rs 5,451 crore.

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.

Tata Motors reported earnings for the December 2024 quarter, which missed estimates. This prompted global brokerage firm Jefferies to downgraded Tata Motors stock to "underperform" from its earlier rating of "buy".

Tata Motors shares plunged 9 per cent to a 52-week low as Q3 profit fell 22 per cent YoY, missing estimates. JLR performed well, but weak India CV growth dampened sentiment.

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.

Results: Profit fell short of ET Now's estimate of Rs 6,791 crore, while revenue rose 3% YoY to Rs 1.13 lakh crore. Consolidated EBITDA rose to Rs 15,500 crore, driven by easing supply challenges. CV revenues fell 8.