Tata Motors posts Rs 1,009-cr Q2 loss

Mumbai: Tata Motors on Wednesday reported a consolidated net loss of Rs 1,009 crore for the second quarter ended September 30, 2018, mainly due to a weak performance by its British arm Jaguar Land Rover (JLR).

The company had reported a net profit of Rs 2,501.67 crore in the July-September quarter of 2017-18. Total revenue from operations, however, rose 3.3 per cent to Rs 72,112.08 crore as compared to Rs 69,838.68 crore in the year-ago period, Tata Motors said. On a standalone basis, the company reported a net profit of Rs 109.14 crore. It had reported a net loss of Rs 283.37 crore in the second quarter of 2017-18. Total revenue from operations grew to Rs 17,758.69 crore during the quarter from Rs 13,310.37 crore in the same period of 2017-18.

Standalone volume rose 25 per cent to 1,90,283 units driven by robust sales of commercial and passenger vehicles. JLR revenue, however, declined 11 per cent to 5.6 billion pounds. Tata Group Chairman N Chandrasekaran said the Tata Motors’ domestic business continued to deliver strong improvement in operational and financial performance by implementing the Turnaround 2.0 strategy effectively.

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