Tata Motors posts loss of Rs 187.7 crore for second quarter of fiscal year

However, good performance by its British arm Jaguar Land Rover (JLR) helped it reduce losses.
Tata Motors (File Photo | Reuters)
Tata Motors (File Photo | Reuters)

NEW DELHI: Amid ongoing slowdown in the auto industry, Tata Motors on Friday posted a consolidated loss of Rs 187.7 crore against loss of Rs 1,009.49 crore in the same period of FY2018-19. Analysts on an average expected it to lose around Rs 1500 crore in the quarter. However, good performance by its British arm Jaguar Land Rover (JLR) helped it reduce losses. 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. Total revenue during the period under review stood at Rs 65,431.95 crore against Rs 71,981.08 crore in the year-ago period. On standalone basis, Tata Motors’s net loss for the quarter was at Rs 1,281.97 crore against a profit of Rs 109.14 crore in the year-ago period.

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