(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 share price declined 8% in the morning trade on Thursday following the automaker’s Q3 results wherein it reported a double-digit fall in profit.

India's Tata Motors reported a 22 per cent 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. The company's profit fell to Rs 5,451 crore ($630 million) in the quarter from Rs 7,025 crore a year before.

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.

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

Tata Motors reported a 22.5% decline in consolidated net profit for Q3 FY25, totaling ₹5,578 crore. Despite strong performance in the JLR segment, overall margins decreased. Revenue from operations rose by 2.

Results: Tata Motors' third-quarter profit declined 22% year-over-year to INR 5,451 crore. Revenue, however, saw a 3% year-over-year increase, reaching INR 1.13 lakh crore.

Tata Motors Ltd on Wednesday (January 29) reported a 22.5% year-on-year (YoY) decline in net profit at ₹5,451 crore for the third quarter that ended on December 31, 2024. In the corresponding quarter of the previous fiscal,