Tata Motors plans to launch 230 showrooms for its ultra-cheap Nano car in the next 12 months, said P.M. Telang, managing director of the company's India operations.

The company currently has 120 exclusive Nano showrooms, he said, adding Sri Lanka and Nepal were "natural" export markets for Nano.

Tata, part of the global tea-to-technology Tata Group, has a product range that spans the Nano and the British Jaguar Land Rover luxury brands.

The company posted a 40.5% rise in profits in the quarter to end-December, as strong sales of its JLR models offset sluggish performance from its domestic arm, hit by high costs and interest rates in India.