MUMBAI: Tata motors on Tuesday it reported a consolidated net loss of Rs 307.26 million for the second quarter ending September 30.
The automaker had reported a net loss of Rs 187.7 crore during the previous July-September fiscal period.
The company’s total operating income decreased to Rs 53,530 crore in the second quarter compared to Rs 65,431.95 crore during the same period last fiscal year, Tata Motors said in a regulatory filing.
Separately, the company posted a net loss of Rs 1,212.45 crore for the September quarter. It had recorded a net loss of Rs 1,281.97 crore in the same period last fiscal year.
Total revenue from operations stood at Rs 9,668.10 crore compared to Rs 10,000.48 crore in the September 2019-20 quarter.
Jaguar Land Rover reported revenue of 4.4 billion pounds, 52.2% more than in the April-June quarter of this fiscal year, although it is 28.5% lower compared to the same period last year.
The luxury brand posted a 65 million pound profit before tax in the second quarter, down from a loss of 413 million pounds in the prior quarter, but less than the PBT of 156 million pounds a year ago.
“Despite concerns about the risk of a second wave of infection in many countries and other geopolitical risks, we expect a gradual recovery in supply and demand in the coming months,” said Tata Motors.
In this context, the company is committed to achieving near-zero net auto debt in the coming years by focusing on better front-end activations of our exciting product range and rigorously executing cost and cash savings, he added.
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