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Tata Motors’ loss narrows to ₹7,585 cr. on improved sales - TechiLive.in

Tata Motors’ loss narrows to ₹7,585 cr. on improved sales

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Tata Motors on Tuesday reported a narrowing of consolidated net loss to ₹7,585 crore for the fourth quarter ended March 31, aided by improved sales.

The company had posted a consolidated net loss of ₹9,864 crore in the January-March period of 2019-20, Tata Motors said in a filing. Total income stood at ₹89,319 crore. It was ₹63,057 crore in the year-earlier period.

The company’s British arm, Jaguar Land Rover reported a pre-tax loss of £952 million for the quarter owing to the £1.5 billion of exceptional charges. However, JLR clocked a 20.5% increase in revenue to £6.5 billion during the quarter led by China and the new Defender model. For FY21, JLR’s revenue was £19.7 billion.

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Commenting on JLR’s performance, company CEO Thierry Bollore said, “I have been encouraged by the company’s resilience and strong recovery during a uniquely challenging year.”

On a standalone basis, it reported a net profit from continuing operations of ₹1,645.69 crore. It had reported a loss from continuing operations of ₹4,871.05 crore in the year-earlier period. Standalone total income was ₹20,305.9 crore as against ₹10,001.8 crore.

On the outlook, it said while demand remains strong, the supply situation over the next few months may be adversely impacted by disruptions from lockdowns in India and semiconductor shortages globally.

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