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- Tata Motors’ Loss Reduced By 47% To Rs 4,450 Crore, But Revenue Stood At Rs 66,406 Crore
MumbaiOne hour ago
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Auto sector company Tata Motors has released its June quarter results. The company has incurred a loss of Rs 4,450.92 crore during April to June. It stood at Rs 8,437.99 crore in the same quarter last year. That is, the loss of the company has reduced by 47% on a yearly basis.
In an exchange filing, the company said its revenue grew 107.6% year-on-year to Rs 66,406.05 crore as against Rs 31,983.06 crore a year ago. Consolidated EBITDA margin also stood at 8.3%. The company said that Tata Motors’ operations in India were good as compared to a year ago. However, supply was hit hard by the second wave and growth was sluggish in the June quarter as compared to the March quarter.
Jaguar Land Rover (JLR) sold 68.1% more vehicles on a year-on-year basis in the first quarter, which stood at 1 lakh 24 thousand 537. Similarly, Tata Motors also sold 95.2 thousand vehicles during April-June, which is 340% more than a year ago. This sales figure has recovered in the midst of the Corona epidemic.
Tata Motors said demand for JLR remained strong. Along with this, the demand for passenger vehicles in India was also good. However, semiconductor issues, costlier metal prices and pandemic uncertainties have weighed on the near term.
In such a situation, the company expects that as the situation improves due to the epidemic, the performance will be seen improving in the second half of the year. Because the supply chain problems will also get better. Shares of Tata Motors fell 0.86% to close at Rs 293.10 on BSE.