Business
Coronavirus Hit Sales : Tata Motors Reports Massive Rs 9,864 Crore Net Loss For March Quarter
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Tata Motors have reported a consolidated net loss of Rs 9,863.73 crore in the fourth quarter ended March 31, with the coronavirus-induced lockdown taking a toll on British arm JLR as well as its domestic business.
The company had posted a net profit of Rs 1,108.66 crore in the January-March period of the financial year 2018-19.
Its revenue from operations stood at Rs 62,492.96 crore in the March 2020 quarter, compared with Rs 86,422.33 crore in the corresponding period a year ago, Tata Motors said in a statement.
On a standalone basis, the company reported a net loss from continuing operations at Rs 4,871.05 crore in the fourth quarter ended March 31, 2020. It had reported a net profit of Rs 106.19 crore in the same period of the financial year 2018-19.
The company’s British arm Jaguar Land Rover (JLR) reported a loss of 501 million pounds in the quarter under review, while the revenue was at 5.4 billion pounds.
