ANI
26 Jul 2021, 18:07 GMT+10
Mumbai (Maharashtra) [India], July 26 (ANI): Tata Motors said on Monday its consolidated net loss narrowed on sequential and year-on-year basis to Rs 4,451 crore in the quarter ended March as compared to a loss of Rs 8,438 crore year-on-year (Q1 FY21) and Rs 7,605 crore loss in the previous quarter (Q4 FY21).
At the same time, revenue from operations in the June quarter more than doubled to Rs 66,406 crore as against Rs 31,983 crore in the year-ago period.
The company's earnings before interest, depreciation and amortisation (EBITDA) came in at Rs 5,500 crore.
The topline performance was largely aided by the benefit of a low base in the year-ago quarter, which was marred by lockdowns in several global markets and national lockdown in India to contain the spread of Covid-19 pandemic.
Tata Motors said its India operations showed significant improvement as compared to first quarter a year ago but the second Covid wave in India along with the supply issues slowed down the growth momentum.
The EV business, however, continued to grow rapidly and delivered 5x revenue growth and highest quarterly sales at 1,715 units.
"Looking beyond the short-term challenges, we see significant opportunities to leverage the mega trends shaping the Indian automotive industry. We are working to transform the customer experience digitally and also strengthen our lead in sustainable mobility," said Executive Director Girish Wagh.
"We will continue to make the requisite investments to ensure a competitive product portfolio while driving down the cash breakevens of the business to deliver consistent, competitive and cash accretive growth over the medium to long term," he said in a statement.
On the other hand, Jaguar Land Lover (JLR) retail sales in the first quarter were 124,537 vehicles, up 68.1 per cent year-on-year. The company said shortage of semiconductor supplies constrained production.
"Though the current environment continues to remain challenging, we will continue to adapt and manage elements that are within our control and ensure that Jaguar Land Rover is well-placed to respond to any further market developments," said CEO Thierry Bollore.
"We remain encouraged by the sheer strength of the demand for our vehicles, and note the success of our electrified powertrain offering as we work to drive that demand further by reimagining our iconic British brands for a future of modern luxury by design." (ANI)Get a daily dose of Bristol Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Bristol Star.
More InformationLONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, 12th July 2025 (WAM) -- Abdulla bin Mohammed bin Butti Al Hamed, Chairman of the National Media Office and Chairman of the...
New Delhi [India], July 12 (ANI): Aviation expert Ehsan Khalid stated on Saturday that the preliminary findings of the Aircraft Accident...
New Delhi [India], July 12 (ANI): Delhi's Rouse Avenue court on Saturday granted time to Arms dealer Sanjay Bhandari to exhaust statutory...
Mumbai (Maharashtra) [India], July 12 (ANI): The restored 4K version of Do Bigha Zamin (1953), directed by Bimal Roy, will have its...
ECAULT BEACH, France: On clear days, the white cliffs of the United Kingdom, are visible from northern France, where men, women, and...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...