Tata Motors Ltd posted a consolidated loss of ₹7,585.34 crore in the March quarter, mainly because its UK unit Jaguar Land Rover wrote off investments worth ₹15,000 crore during the period. The figure is, however, narrower than the ₹9,863.75 crore loss a year ago as Tata Motors and JLR reported robust sales during the period. A Bloomberg survey of analysts predicted Tata Motors to report a profit of ₹2,774.10 crore in the three months ended 31 March. Tata Motors did not specify the loss in vehicle production and wholesales due to component shortages. On a consolidated basis, Tata Motors’ revenue for the March quarter jumped 41.8% to ₹88,627.9 crore, thanks to the recovery in vehicle sales.

Source: Mint May 18, 2021 19:12 UTC