​Tata Motors’ India Operations May Not Post Profit

Tata Motors, India's largest automobile manufacturer, said its domestic operations might not post profit for the fiscal year that ended in March.

The company’s performance was hurt by slowing economic activity, weak consumer sentiment, increasing competition and high interest rates, Tata Motors said in a notification to the stock exchange on May 27.

The company's Indian operations posted a profit of Rs 300 crore ($51 million) in the fiscal year ended March 31, 2013, a 75% fall from the previous year.

The automaker, part of the diversified Tata conglomerate, has tried to make up for the weak performance at home and grown more reliant on its luxury Jaguar Land Rover unit over the past two years.

In a bid to improve its performance, Tata Motors has also planned to launch new passenger vehicles in July this year.

However, the company has not revealed much information about its plan.

The vehicle-maker also announced in February that it would roll out its Bolt hatchback and Zest compact sedan in the second half of the year.