Tata Motors on Monday reported a consolidated net loss of Rs 4,441.57 crore during July-September quarter as against a net loss of Rs 314.45 crore in the year-ago quarter.
The company's net revenue rose 14.7 per cent to Rs 61,379 crore during the quarter.
Net revenue from Jaguar Land Rover also declined 11.1 per cent as its wholesales to dealers fell 12.8 per cent year-on-year (YoY) to 64,032 vehicles, while retail sales declined 18.4 per cent, reflecting the semiconductor shortage and lower retailer inventories, the company said.
Tata Motors said its India operations showed significant improvement as compared to the corresponding quarter a year ago. However, supply chain issues and commodity inflation impacted the margins.
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On a standalone basis, the company reported a net loss of Rs 576 crore from continuing operations, while revenue zoomed 90.7 per cent to Rs 18,439 crore. The volumes across all segments grew significantly as compared to Q2 FY21, however, supply challenges had an adverse impact during the quarter, it said.
Retail sales of commercial vehicle (CVs) rose 102 per cent to 77,300 units, while those of passenger vechicle (PV) grew 59 per cent to 85,200 units.
"Demand remains strong for JLR and India PV while CV demand is improving gradually. Semiconductor issues and commodity inflation will continue to impact the near term and we are doing our best to manage them. The performance is expected to improve gradually starting in H2 as both the supply chain and the pandemic situation improves," the company said on the outlook.
Shares of Tata Motors on Monday closed 0.40 per cent higher at Rs 485.70 on the BSE.
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