October 27, 2020 5:58:01 pm
Tata Motors on Tuesday reported a consolidated net loss of Rs 307.26 crore for the second quarter ended September 30.
The auto major had reported a net loss of Rs 187.7 crore during the July-September period previous fiscal.
The company’s total revenue from operations declined to Rs 53,530 crore in the second quarter as against Rs 65,431.95 crore during the same period last fiscal, Tata Motors said in a regulatory filing.
On a standalone basis, the company posted a net loss of Rs 1,212.45 crore for the September quarter. It had registered a net loss of Rs 1,281.97 crore in the same period last fiscal.
The total revenue from operations stood at Rs 9,668.10 crore as compared to Rs 10,000.48 crore in the September quarter of 2019-20.
Jaguar Land Rover reported revenue of 4.4 billion pound, up 52.2 per cent from April-June quarter this fiscal, although it is 28.5 per cent lower compared to the same period a year ago.
The luxury brand generated a 65 million pound profit before tax in the second quarter, up from a loss of 413 million pound in the prior quarter, but lower than the PBT of 156 million pound a year ago.
“Despite concerns around the risk of second wave of infection in many countries and other geopolitical risks, we expect a gradual recovery of demand and supply in the coming months,” Tata Motors said.
In this context, the company is committed to achieving near-zero net automotive debt in the coming years by focusing on better front-end activations of our exciting product range and executing cost and cash savings with rigour, it added.
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