Tata Motors Q2 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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)