Tata Motors on Wednesday reported a consolidated net loss of Rs 944.61 crore for the second quarter ending September.
The company had posted a net loss of Rs 4,441.57 crore in the year-ago period
Tata Motors on Wednesday reported a consolidated net loss of Rs 944.61 crore for the second quarter ending September.
The company had posted a net loss of Rs 4,441.57 crore in the year-ago period.
The company’s consolidated revenue jumped 29.7% to Rs 79,611.37 crore as against Rs 61,378.82 crore a year ago.
Shares of the company on Wednesday closed 0.44 per cent down at Rs 433 apiece on the BSE.
JLR revenue was £5.3 billion in the second quarter of the financial year, up 36% YoY reflecting strong model mix and pricing with wholesale volumes (excluding China JV) of 75,307 up 17.6% YoY and 4.9% on the prior quarter, the company said in a filing.
On a standalone basis, the company reported a net loss of Rs 293 crore. It had posted a net loss of Rs 659 crore in the year-ago period.
Total standalone income rose to Rs 15,142 crore in the second quarter, as compared to Rs 11,197 crore in the same period last year.
Jaguar Land Rover (JLR), a part of Tata Motors, reported revenues of 5.3 billion pounds in the second quarter, up 36 per cent from the year-ago period.
The wholesale increase was lower than planned, primarily due to a lower-than-expected supply of specialised chips from one supplier which could not be readily re-sourced in the quarter, Tata Motors said, adding, “JLR is continuing to focus on signing long-term partnership agreements with chip suppliers which is improving visibility of future chip supply.”
"Demand for our most profitable and desired vehicles remains strong and we expect to continue to improve our performance in the second half of the year, as new agreements with semiconductor partners take effect, enabling us to build and deliver more vehicles to our clients," JLR CEO Thierry Bollore stated.