Tata Motors shares tank 9% post July-September earnings

New Delhi: Shares of Tata Motors today tumbled 9 percent after the company’s standalone net loss widened to Rs 631 crore in the September quarter. The stock plunged 8.93 percent to Rs 462.05 on BSE. On NSE, shares of the company tanked 9 percent to Rs 461.35. [caption id=“attachment_2006903” align=“alignleft” width=“380”]  Reuters[/caption] On standalone basis, Tata Motors’ net loss widened to Rs 631 crore for the quarter under review compared to Rs 289 crore in the year-ago period. The company’s standalone net sales were at Rs 11,406 crore as against Rs 11,794 crore in the year-ago period, down 3.28 percent. Meanwhile, Tata Motors reported consolidate profit after tax of Rs 848 crore for the September quarter, mainly on the back of good show by JLR. It had posted a consolidated loss of Rs 1,740 crore in the July-September period of last fiscal, Tata Motors had said in a statement yesterday. Its consolidated net revenue in the second quarter of 2016-17 was up 6.94 percent at Rs 67,000 crore as against Rs 62,647 crore in the year-ago period. JLR posted strong sales in all the regions – UK, Europe, North America, China and other overseas markets, the company said.