(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.

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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.

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.