Jaguar Land Rover Automotive, the British arm of Tata Motors Ltd, is planning to raise $500 million through an offshore loan, according to a company statement, joining a flurry of dollar debt deals from Indian conglomerates.

Jaguar Land Rover reported a drop in quarterly profit as the maker of luxury sport utility vehicles braces for potential tariffs in the US, its largest market.

The luxury vehicle maker, whose parent company is Indian conglomerate Tata, said its revenue increased by 2 per cent in the three months ending December, against the same period last year.