Tata Motors Results: Shares of Tata Motors opened higher on Tuesday (July 27, 2021). It was expected that the shares would fall after the company’s poor financial performance. But after its shares opened in the green zone, it is clear that investors have faith in it. According to the company’s results announced a day earlier (July 26, 2021), it has incurred a loss of Rs 4,450.92 crore in the first quarter (2021-22). However, this is much less than the loss of Rs 8,437.99 crore in the first quarter of the previous financial (2020-21) year. However, it should be noted that during the first quarter of the last financial year, the lockdown started in the country and the sale of vehicles almost came to a standstill. There was a huge fall in the shares of Tata Motors during that time.
Company still in loss
The company’s revenue increased to Rs 66,406 crore in the first quarter of the current financial year, which is more than double the revenue of Rs 31,983 crore in the same period last fiscal. It is true that the company’s earnings have increased but it is still in significant losses. The company’s loss for Jaguar Land Rovers has also increased to 110 million pounds, which is much higher than expected.
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Despite losses, investors support Tata Motors shares
The share of Tata Motors is trading at Rs 294.60 with slight gains today. Earlier, it has made a high of 295.75 and a low of Rs 291.95 in intraday. During the first wave of Corona, there was a huge drop in sales of Tata Motors due to the lockdown. But its operation has shown improvement in the first quarter during the second wave. However, the pace of growth that was seen in the last quarter of the financial year 2020-21 has also slowed down. By the way, in the first quarter of the current financial year, the sales of Jaguar Land Rovers have increased by 68.1 percent in the same period of the previous financial year.