Tata Motors on Friday said its fiscal year net profit dropped by more than half as the global slowdown cut demand for trucks and cars.

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The company told AFP net profit to March 2009 tumbled to INR10bn (US$209m) from INR20.28bn a year earlier. Revenue fell 10% to INR256.6bn.


The company did not provide fourth quarter data.


Tata last year paid bought Jaguar and Land Rover for $2.3bn.


Tata cut capital expenditure plans to INR25-30bn ($530-$635m) for each of the next two years from INR40bn earlier, a senior company official told Reuters.

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