Indian carmaker Tata Motors Tuesday reported a 17 percent fall in quarterly profits, as the pound depreciated against the rupee following Britain's vote to leave the European Union. The company's consolidated net profit for the three months ending March fell to 43.36 billion rupees ($668.72 million) from 52.11 billion rupees a year earlier, the Mumbai-based company said in a statement.

Revenue fell 2.6 percent to 789.81 billion rupees. Jaguar Land Rover, one of Tata Motors' key products, relies heavily on the UK market for its revenue and sales. Since the "Brexit" referendum, the pound has fallen sharply against the Indian currency, down from over 100 rupees to 84.17 rupees. Aside from the fall in the pound, the Jaguar Land Rover business saw "strong demand across the product portfolio primarily reflecting higher volumes in China, North America, UK and Europe," the company said.

Copyright Agence France-Presse, 2017