Tata Motors reports consolidated net loss of ₹307 crore in September quarter

Tata Motors on October 27 reported a consolidated net loss of ₹307.26 crore for the second quarter ended September 30.

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The auto major had reported a net loss of ₹187.7 crore during the July-September period previous fiscal.

The company’s total revenue from operations declined to ₹53,530 crore in the second quarter as against ₹65,431.95 crore during the same period last fiscal, Tata Motors said in a regulatory filing.

On a standalone basis, the company posted a net loss of ₹1,212.45 crore for the September quarter. It had registered a net loss of ₹1,281.97 crore in the same period last fiscal.

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The total revenue from operations stood at ₹9,668.10 crore as compared to ₹10,000.48 crore in the September quarter of 2019-20.

Jaguar Land Rover reported revenue of 4.4 billion pound, up 52.2% from April-June quarter this fiscal, although it is 28.5% lower compared to the same period a year ago.

The luxury brand generated a 65 million pound profit before tax in the second quarter, up from a loss of 413 million pound in the prior quarter, but lower than the PBT of 156 million pound a year ago.

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“Despite concerns around the risk of second wave of infection in many countries and other geopolitical risks, we expect a gradual recovery of demand and supply in the coming months,” Tata Motors said.

In this context, the company is committed to achieving near-zero net automotive debt in the coming years by focusing on better front-end activations of our exciting product range and executing cost and cash savings with rigour, it added.

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Printable version | Nov 26, 2020 11:32:08 PM |

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