Tata Motors Ltd Q2 consolidated net loss widens to Rs 4,415.54 crore

Homegrown auto major Tata Motors Ltd (TML) on Monday reported a widening of consolidated net loss to Rs 4,415.54 crore for the second quarter ended September 30, due to higher expenses and lower sales of British arm JLR following semiconductor shortage.

The company had posted a consolidated net loss of Rs 307.26 crore in the same period last fiscal, Tata Motors said in a regulatory filing.

Its consolidated revenue from operations stood at Rs 61,378.82 crore against Rs 53,530 crore in the year-ago quarter, it added.

The total expenses were Rs 65,712.83 crore, compared to Rs 54,982.77 crore a year ago.

British arm Jaguar Land Rover had a revenue of 3.9 billion pounds with a pre-tax loss of 302 million pounds in the second quarter, the company said.

JLR wholesales in the quarter were 64,032 units, down 12.8 per cent from the year-ago quarter, and retail sales, including the China joint venture, stood at 92,710 units, down 18.4 per cent, reflecting the semiconductor shortage and lower retailer inventories, the company added

On a standalone basis, TML posted a net loss of Rs 659.33 crore. It had a net loss of Rs 1,212.45 crore in the same quarter last fiscal.

Standalone revenue from operations was Rs 10,996.02 crore, compared to Rs 5,594.60 crore a year ago, the company said.

In Q2 FY22, wholesales, including exports, increased 56.3 per cent to 1,71,823 units, it added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor