Tata Motors Q1 results: Tata Motors’ consolidated net loss in the first quarter April-June of the current financial year 2021-22 reduced to Rs 4,450.12 crore.
Domestic vehicle manufacturer Tata Motors’ consolidated net loss in the first quarter April-June of the current financial year 2021-22 reduced to Rs 4,450.12 crore. A year ago in the same quarter of 2020-21, the company had a consolidated net loss of Rs 8,444 crore amid severe disruptions due to COVID-19. The reason for the reduction in losses is the improvement in the sales of the company as compared to the corresponding quarter of the last financial year.
The company said that its consolidated revenue during the quarter stood at Rs 66,406 crore in June, as against Rs 31,983 crore in the same quarter of 2020-21 a year ago.
JLR earnings up 73.7 percent
The company’s British arm Jaguar Land Rover (JLR) reported revenue of £5 billion in the first quarter of the current fiscal, up 73.7 per cent from the same quarter of 2020-21 a year ago. JLR suffered a pre-tax loss of £11 million. JLR’s retail sales grew 68.1 per cent to 1,24,537 units in the quarter from April-June 2020.
Thierry Bellorre, CEO of JLR, said, “We are delighted that we continue to make a positive recovery from the pandemic with all sectors registering year-on-year growth. This shows the attractiveness of Jaguar and Land Rover vehicles.
On a standalone basis, Tata Motors reported a net loss of Rs 1,321 crore in the quarter under review. A year ago, in the first quarter of 2020-21, the company had a loss of Rs 2,191 crore on a standalone basis. The company’s operating income on a standalone basis stood at Rs 11,904 crore for the quarter ended June, 2021 as against Rs 2,687 crore in the corresponding quarter of 2020-21 a year ago.
Wholesale sales, including exports, grew 351.4 percent in Q1
Tata Motors said that wholesale sales including exports stood at 1,14,170 units, up 351.4 percent in the first quarter. Girish Wagh, Executive Director, Company said, “We see great opportunities to leverage the big trends shaping the Indian automotive industry.
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