Tata Motors reports consolidated June quarter net loss of Rs 18.62 bn

Tata Motors

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.