Tata Motors Reports Q1 2020 Loss at Rs 8,444 Crores As Covid-19 Pandemic Hits Sales
4 years, 4 months ago

Tata Motors Reports Q1 2020 Loss at Rs 8,444 Crores As Covid-19 Pandemic Hits Sales

News 18  

Hit hard by the coronavirus pandemic, homegrown auto major Tata Motors on Friday reported a consolidated net loss of Rs 8,443.98 crore for the first quarter ended June 2020. The company's British arm Jaguar Land Rover reported a 44 per cent dip in net revenue at 2.9 billion pounds during the first quarter. At a post-earnings conference call, Tata Motors Group CFO P B Balaji said that as much as 98 per cent of the JLR retailers were fully or partially open globally and that the sales started improving on a month-on-month basis despite 42.4 per cent fall in volume in the quarter. For Tata Motors, Q1 was marked by a successful transition to BS-VI and a sharp increase in PV market shares to 9.5 per cent with the "New Forever" range.

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