India's Tata Technologies posts third straight drop in profit as EV demand slows
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 28 2024
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Source: Reuters
Tata Technologies Profit Decline: Tata Technologies reported a 2% drop in profit for the third consecutive quarter, attributed to slowing global demand for electric vehicles, despite a slight revenue increase of 2%.
Challenges in EV Market: The Indian electric vehicle market is facing challenges with faltering sales growth due to high prices and insufficient charging infrastructure, leading some car manufacturers to reduce their EV targets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
