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Tata Motors loss widens to ₹314 cr. on CV decline
Tata Motors Ltd. reported a wider consolidated net loss of ₹314 crore for the second quarter ended September 30 compared with a net loss of ₹217 crore a year earlier.
The auto major had reported a net loss of ₹8,438 crore in the quarter ended June.
Consolidated revenue in the latest quarter declined 18% to ₹53,530 crore due to a decline in commercial vehicle and Jaguar Land Rover (JLR) sales volumes.
“Despite concerns around risk of a second wave of infection in many countries and other geopolitical risks, we expect a gradual recovery of demand and supply in the coming months,” the company said in a regulatory filing.