Tata Motors Tuesday reported a consolidated net loss of Rs 1,862.57 crore for the quarter ended June 30, 2018 against a net profit of Rs 3,199.93 crore in the same period in 2017-18. The total revenue from operations of the firm, however, rose to Rs 67,081.29 crore compared with Rs 59,818.22 crore, a year ago.
On standalone basis, the company reported a net profit of Rs 1,187.65 crore as against a net loss of Rs 463.14 crore in the first quarter of 2017-18. Total revenue from operations grew to Rs 16,803.11 crore during the quarter from Rs 10,366.19 crore in the same period of 2017-18. Standalone volume rose 59 per cent to 1,76,868 units driven by robust sales of commercial and passenger vehicles. JLR revenue, however, declined 6.7 per cent to 5.2 billion pounds.
Tata Group Chairman Natarajan Chandrasekaran said the company continues to gain market share while strongly improving profitability in both commercial vehicles and passenger vehicles. “With regards to JLR, we faced multiple challenges including temporary issues like China duty impact as well as market issues like diesel concerns in the UK and Europe. Despite these challenges, the company remains committed to delivering the planned margins it outlined earlier this year,” said Chandrasekaran.
Shares of Tata Motors ended 1.18 per cent down at Rs 264.15 each on the BSE.