Tata Motors posts net loss at Rs 1,862 cr in Apr-Jun quarter as JLR revenue declines
Tata Motors' revenue from operations grew to Rs 16,803.11 crore during June quarter from Rs 10,366.19 crore in the same period of 2017-18
New Delhi: Tata Motors Group on Tuesday reported a consolidated net loss of Rs 1,862.57 crore for the quarter ended 30 June, 2018.
The company had reported a net profit of Rs 3,199.93 crore in the April-June quarter of 2017-18.
Total revenue from operations, however, rose to Rs 67,081.29 crore as compared with Rs 59,818.22 crore in the year-ago period, Tata Motors said in a regulatory filing.
On a standalone basis, the company reported a net profit of Rs 1,187.65 crore. It had reported a net loss of Rs 463.14 crore in the first quarter of 2017-18.
Total revenue from operations grew to Rs 16,803.11 crore during the quarter from Rs 10,366.19 crore in the same period of 2017-18.
Standalone volume rose 59 percent to 1,76,868 units driven by robust sales of commercial and passenger vehicles.
JLR revenue, however, declined 6.7 percent to 5.2 billion pounds.
Commenting on the domestic business, Tata Group Chairman Natarajan Chandrasekaran said the company continues to gain market share while strongly improving profitability in both commercial vehicles and passenger vehicles.
"With regards to JLR, we faced multiple challenges including temporary issues like China duty impact as well as the market issues like diesel concerns in the UK and Europe," he added.
Despite these challenges, the company remains committed to delivering the planned margins it outlined earlier this year, Chandrasekaran said.
Tata Motors shares today settled 1.18 percent down at Rs 264.15 per scrip on BSE.
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