Shares of Tata Motors rallied nearly 10 per cent to hit an intraday high of Rs 408.65 on Friday, a day after the company reported its March quarter earnings. Tata Motors' consolidated net loss narrowed to Rs 992 crore in last quarter of previous financial year from loss of Rs 7,585 crore in the same quarter last year.
Its revenue from operations declined 11.3 per cent to Rs 77,857 crore compared with Rs 87,772 crore in the same quarter last year.
The company had posted a consolidated net loss of Rs 7,585.34 crore in the same period last fiscal, Tata Motors said in a regulatory filing.
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On a standalone basis, the automaker reported a net profit of Rs 413.35 crore in the period under review, as against a net profit of Rs 1,645.68 crore in the fourth quarter of 2020-21.
Standalone total revenue from operations stood at Rs 17,338.27 crore in the fourth quarter, as compared to Rs 13,480.42 crore in the same period of the previous fiscal, Tata Motors said.
"The key highlight of this particular quarter is the sequential recovery that we saw across all businesses, despite the challenges that we had on semiconductors and inflation," Tata Motors Group CFO P B Balaji said in an earnings call.
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"Sales volumes were not materially impacted by the Russia-Ukraine conflict, historically less than 2.5 per cent combined sales volumes in the two countries. New vehicle sales into Russia have been paused since the end of February," Tata Motors said in a stock exchange filing.
The company has said that going ahead supply challenges were compounded due to conflict in Ukraine and China covid lockdowns and commodity inflation is likely to remain elevated levels.
As of 12:06 pm, Tata Motors shares traded 9.85 per cent higher at Rs 408.75, outperforming the Sensex which was up 1.3 per cent.
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