Automobile major Tata Motors has reported a significantly higher consolidated net loss of Rs 5,007 crore for the April- June quarter, compared to a loss of Rs 4,451 crore in the corresponding period last year.
However, the parent company of the British Jaguar Land Rover (JLR) consolidated revenue from operations increased by more than 8 per cent to Rs 71,935 crore during the June quarter compared to Rs 66,406 crore in the year-ago period, it said.
JLR registered a 11.3 per cent year-on year drop in sales at 4,406 million pounds. The company added it sold 78,825 vehicles in the June quarter, broadly flat compared with the fourth quarter of last fiscal. But the number was 37 per cent lower compared April-June period of the last financial year.
"We expect demand to remain strong despite worries on inflation and geo-political risks while the supply situation is expected to improve further. Cooling commodity prices are expected to aid improvement in underlying margins,” the company said in a stock exchange filing.
It also said that financial performance was likely to improve compared to last year with the easing of chip supply,
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