Tata Motors Q4 loss narrows to `7,600 cr BIG SURGE
PUNE, MAY 18
Tata Motors, India’s biggest automaker, which owns British iconic luxury car maker Jaguar Land Rover (JLR), narrowed its losses in the March 2021 quarter.
The Mumbai-based passenger and commercial vehicle maker’s consolidated net loss for the quarter came down to Rs
7,605.4 crore, mainly on account of asset write downs in its subsidiary JLR, compared with a net loss of Rs 9,864 crore in the year-ago quarter. The company has incurred cash write downs on assets worth Rs 9,606.1 crore during the quarter. This is apart from the restructuring costs of Rs
5,388.2 crore. This is apart from the restructuring costs of Rs 5,388.2 crore. In total, the exceptional loss in Q4 related to JLR stood at nearly Rs 14,000 crore.
It posted a loss of Rs
9,894.2 crore in the corresponding period last year and profit at Rs 2,906.45 crore in the December
2020 quarter.
The carmaker's revenue from operations came in at Rs 88,628 crore for the fourth quarter, up 42 per cent from the revenue of Rs 62,492 crore clocked in
Jaguar Land Rover saw soaring demand in China last quarter
Q4 FY20 retail sales Q4 FY21 the same year.
On a standalone basis, Tata Motors reported a net profit of Rs 1,646 crore as against a loss of Rs 4,871 crore in the yearago period.
For the full financial year 2020-21, the company reported a consolidated net loss of Rs 13,395 crore, against a net loss of Rs 11,975 crore in the previous year.
JLR sold 12 per cent more luxury vehicles in the March quarter as purchases more than doubled in China.
However, Tata Motors has flagged global supplyrelated challenges, where coronavirus cases are still high in many markets.
“Supply chain issues, in particular for semi-conductors, have become more difficult to mitigate and are now impacting production plans for Q1. The company is working closely with affected suppliers to resolve the issues and minimise the effect on customers,” Tata Motors said in an exchange filing on Tuesday.
“While demand remains strong, the supply situation over the next few months is likely to be adversely impacted. We expect Q1 FY22 to be relatively weak,” it said.
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