Jaguar's Lagging Q1 Numbers Have Tata Motors (TTM) Investors Scrambling

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Tata Motors (NYSE: TTM) shares are slumping early Wednesday following the company's Jaguar unit reporting lower-than-expected earnings.

EBITDA of £605.4 million missed views at Deutsche Bank and Nomura Holdings. Excluding a one-time deferred tax benefit, profit slipped to £422 million, missing Nomura's views by about 16 percent.

Margins compressed from 17.0 percent in the three-months ended December 2011 to 14.6 percent.

Sales were bolstered by sales of luxury vehicles and further adaption in emerging markets like Brazil, South Africa, and India.

Shares of Tata are down 9.4 percent in morning trading Wednesday. The stock is at the lowest point since the middle of January.

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