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Tata Motors Q2 net loss at 188 crore
Homegrown auto major Tata Motors on Friday reported a consolidated net loss of Rs 187.7 crore for the quarter ended September 30, hit by subdued demand for its vehicles in the domestic market.
New Delhi: Homegrown auto major Tata Motors on Friday reported a consolidated net loss of Rs 187.7 crore for the quarter ended September 30, hit by subdued demand for its vehicles in the domestic market.
The company had posted a loss of Rs 1,009.49 crore in the same period of 2018-19. Total revenue during the period under review stood at Rs 65,431.95 crore as against Rs 71,981.08 crore in the year-ago period, Tata Motors said.
British arm Jaguar Land Rover (JLR) reported a pre-tax profit of 156 million pounds, 246 million pounds better year-on-year, it added. The British brand's wholesales during the second quarter were up 2.9 per cent at 1,34,489 units.
"JLR has returned to profitability and revenue growth. This is testament to the fundamental strength of our business, our award-winning products, new technologies and operating efficiencies," JLR Chief Executive Ralf Speth said.
Looking forward, the company would continue its product offensive, broadening its range of electrified vehicles, he added. On standalone basis, Tata Motors said its net loss for the quarter was at Rs 1,281.97 crore as against a profit of Rs 109.14 crore in the year-ago period.
