Tata Motors reports loss of Rs 217 crore

Tata Motors reports loss of Rs 217 crore

Agency News

Tata Motors on October 25 reported a 79 percent year-on-year (YoY) fall in its net loss at Rs 216.6 crore for the September quarter of FY2020.

The company's British luxury arm Jaguar Land Rover posted a pre-tax loss of 395 million pounds. The group's consolidated revenue came in at Rs 65,432 crore, lower than Rs 71,981.08 crore in the same quarter last year. The sales number, however, was higher than CNBC-TV18 poll estimate of Rs 63,434 crore.

Consolidated EBITDA came at Rs 7,045 crore, while consolidated EBITDA margin stood at 10.8 percent. The company said growth continues to be affected by subdued demand, higher axle loads, liquidity stress, low freight availability for cargo operators and general economic slowdown.

However, the performance of Land Rover improved during Q2FY20 as the revenue of this segment improved 8 percent to 6 billion pounds.

Jaguar's EBITDA margin stood at 13.8 percent which is among the highest in the last 16 quarters, the company claimed. EBIT margin came at 4.8 percent.