BENGALURU: Hit by the global semiconductor shortage crisis, Tata Motors (including Jaguar Land Rover) on Monday reported Rs 1,451 crore consolidated net loss in the December ending quarter Q3FY22 as against Rs 2,941 crore profit reported in the same quarter last year.
However, the last quarter loss is lower than Q2FY22 loss which stood at Rs 4,442 crore. With this, Tata Motors losses have now swelled to Rs 10,317 crore in the first nine month of going financial year. The total revenue from operations came in at Rs 72,229.29 crore in Q3FY22, down 4.52 per cent against Rs 75,653.79 crore in the corresponding quarter last year.
The company's operating margin also witnessed an annual slump of 4.60 per cent during the quarter. Tata Motors’ global sales stood at 286,024 units this December quarter as against 274,172 units in the year-ago period, down 4.3%.
Tata Motors said that JLR remained constrained by chip shortages with retail sales of 80,126 vehicles, down 37.6 per cent over Q3 FY21. It added that the chip supply situation is gradually improving with production volumes of 72,184 units, up 41 per cent over Q2 FY22.
"Whilst semiconductor supplies have continued to constrain sales this quarter, we continue to see very strong demand for our products underlining the desirability of our vehicles," said Jaguar Land Rover CEO Thierry Bolloré.