June qtr: Semiconductor shortage hits Tata Motors, net loss at Rs 4,450.9 crore

Although the company’s India operations showed significant improvement as compared to Q1 a year ago, the second wave in India along with the supply issues, slowed down growth momentum.

Tata Motors has already received orders for 1,500 electric buses from Delhi Transport Corporation (DTC) and 1,180 electric buses from West Bengal Transport Corporation (WBTC), respectively, in the last 30 days. (File)

Tata Motors has reported a higher-than-expected consolidated net loss of Rs 4,450.92 crore for the June quarter of FY22 against a net loss of Rs 8,437.99 crore in the corresponding quarter of the previous financial year.

Consolidated revenue for the quarter more than doubled to Rs 66,406.45 crore from Rs 31,983.06 crore in the year-ago period, it said.
Retail sales of JLR were 124,537 vehicles, up 68.1 per cent year-on-year. “Shortage of semiconductor supplies constrained production resulting in a pre-tax loss of 110 million pounds”.

Although the company’s India operations showed significant improvement as compared to Q1 a year ago, the second wave in India along with the supply issues, slowed down growth momentum.

L&T Q1 net jumps 287% on higher order volume

Larsen & Toubro (L&T) on Monday reported a 287 per cent jump in consolidated net profit for the June quarter at Rs 1,174 crore, as against Rs 303 crore in the year-ago period.

The company reported consolidated revenue of Rs 29,335 crore for the quarter ended June 30, 2021, registering growth of 38 per cent, aided by healthy execution of projects despite the second wave. It was Rs 21,260 crore a year ago. The company bagged orders worth Rs 26,557 crore at the group level, registering a of 13 per cent over the corresponding period.