(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.

This profit was independent of the fiscal incentives provided by the government under the production-linked incentive (PLI) scheme during the same period.

Shares of Tata Motors Ltd slipped 9% in early deals to their fresh 52-week low on Thursday as Q3 earnings fell below street estimates. Tata Motors stock fell 9.06% to Rs 684.25 against the previous close of Rs 752.45. On BSE, 3.98 lakh shares changed hands amounting to a turnover of Rs 27.74 crore.

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.

Results: Profit fell short of ET Now's estimate of Rs 6,791 crore, while revenue rose 3% YoY to Rs 1.13 lakh crore. Consolidated EBITDA rose to Rs 15,500 crore, driven by easing supply challenges. CV revenues fell 8.

Indian carmaker Tata Motors reported third-quarter profit below market expectations on Wednesday, weighed down by weakness in its luxury Jaguar Land Rover (JLR) business and as car sales slowed down at home.