Tata Motors Group on Tuesday reported a consolidated net loss of Rs 18.62 billion for the quarter ended June 30, 2018.
The company had reported a net profit of Rs 31.99 billion in the April-June quarter of 2017-18.
Total revenue from operations, however, rose to Rs 670.81 billion as compared with Rs 598.18 billion in the year-ago period, Tata Motors said in a regulatory filing.
On standalone basis, the company reported a net profit of Rs 11.87 billion. It had reported a net loss of Rs 4.63 billion in the first quarter of 2017-18.
Total revenue from operations grew to Rs 168.03 billion during the quarter from Rs 103.66 billion in the same period of 2017-18.
Standalone volume rose 59 per cent to 1,76,868 units driven by robust sales of commercial and passenger vehicles.
JLR revenue, however, declined 6.7 per cent to 5.2 billion pounds. Commenting on the domestic business, Tata Group Chairman Natarajan Chandrasekaran said the company continues to gain market share while strongly improving profitability in both commercial vehicles and passenger vehicles.
"With regards to JLR, we faced multiple challenges including temporary issues like China duty impact as well as the market issues like diesel concerns in the UK and Europe," he added.
Despite these challenges, the company remains committed to delivering the planned margins it outlined earlier this year, Chandrasekaran said.
Tata Motors shares on Tuesday settled 1.18 per cent down at Rs 264.15 per scrip on BSE.
TATA MOTORS LTD
STOCK PRICE - CLICK HERE FOR MORE
BSE 264.15-3.15 (-1.18%)
NSE 264.10-3.40 (-1.27%)
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NSE
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15:00
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The company had reported a net profit of Rs 31.99 billion in the April-June quarter of 2017-18.
Total revenue from operations, however, rose to Rs 670.81 billion as compared with Rs 598.18 billion in the year-ago period, Tata Motors said in a regulatory filing.
On standalone basis, the company reported a net profit of Rs 11.87 billion. It had reported a net loss of Rs 4.63 billion in the first quarter of 2017-18.
Total revenue from operations grew to Rs 168.03 billion during the quarter from Rs 103.66 billion in the same period of 2017-18.
Standalone volume rose 59 per cent to 1,76,868 units driven by robust sales of commercial and passenger vehicles.
JLR revenue, however, declined 6.7 per cent to 5.2 billion pounds. Commenting on the domestic business, Tata Group Chairman Natarajan Chandrasekaran said the company continues to gain market share while strongly improving profitability in both commercial vehicles and passenger vehicles.
"With regards to JLR, we faced multiple challenges including temporary issues like China duty impact as well as the market issues like diesel concerns in the UK and Europe," he added.
Despite these challenges, the company remains committed to delivering the planned margins it outlined earlier this year, Chandrasekaran said.
Tata Motors shares on Tuesday settled 1.18 per cent down at Rs 264.15 per scrip on BSE.
TATA MOTORS LTD
STOCK PRICE - CLICK HERE FOR MORE
BSE 264.15-3.15 (-1.18%)
NSE 264.10-3.40 (-1.27%)
BSE
NSE
12:01
15:00
262
264
266
268
270
272
12:01
2Y1Y6M1M5D1D
ALSO READ
Remuneration of Tata Motors' bosses drops as turnaround takes effect
Tata Motors Q4 net profit down nearly 50% to Rs 21.76 billion
Tata Motors stock's underperformance may continue till JLR sales improve
Tata Motors may begin exporting Tata Ace to Myanmar through Bangladesh JV
Tata Motors results reflect bumpy road ahead for Jaguar Land Rover
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