JLR parent Tata Motors posts $1.3 billion quarterly loss
Global Economy
15 June, 2020, 06:05 pm
Last modified: 15 June, 2020, 06:06 pm
Total revenue from operations fell 27.7 percent to 624.93 billion rupees
The logo of Tata Motors is pictured at at the 37th Bangkok International Motor Show in Bangkok, Thailand, March 22, 2016. REUTERS/Chaiwat Subprasom/File Photo
India's Tata Motors Ltd posted a quarterly loss on Monday, hurt by weak demand and coronavirus-induced lockdowns in several countries where it sells its luxury Jaguar Land Rover cars.
The carmaker's consolidated net loss was 98.94 billion rupees ($1.3 billion/£1.04 billion) for the fourth quarter ended March 31, compared with a profit of 11.17 billion rupees a year earlier.
Total revenue from operations fell 27.7 percent to 624.93 billion rupees.
Comments
While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.