Tata and JLR count on product offensive to counter weak Q4

Tata Motors is counting heavily on new product launches to provide momentum this year, following an unexpectedly sharp drop in Q4 profit. The OEM finished the financial year (ending March 2015) with profit on par with the previous year, but the fourth quarter alone saw profit after tax plunge 56% to Rs17.2bn (US$268.5m). The OEM has attributed the hefty quarterly decline to "higher depreciation and amortisation and adverse mark to market of un-matured hedges not eligible for hedge accounting."