Tata Motors Posts Second-Quarter Loss On Lean JLR Sales, One-Off Charge
Tata Motors Ltd today reported a loss for the three months ended September, dented by weak Jaguar Land Rover sales and a one-off charge in respect to a subsidiary closure.
The automaker made a loss of 10.49 billion rupees ($141.92 million), compared with a profit of 24.83 billion rupees in the year-ago period, the company said.
That was above the street estimate of a loss of 2.40 billion rupees, according to Refinitiv data.
Total expenses during July-September rose 8.6 percent, while revenue climbed to 712.93 billion rupees from 695.70 billion rupees a year earlier.
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