Tata Motors reports Q2 net loss at Rs 1,009.49 crore, Auto News, ET Auto

New Delhi: Home-grown automaker Tata Motors on Wednesday reported a consolidated net loss of Rs 1,009.49 crore for the quarter ended September 30 2018, impacted majorly by sales fallout of Jaguar Land Rover.

Tata Motors reports Q2 net loss at Rs 1,009.49 crore The company had posted a consolidated profit at Rs 2,501.67 crore in Q2 2017, as per a regulatory filing.

Revenue from operations, however, rose to Rs 72,112.08 crore for the second quarter as against Rs 69,838.68 crore for the same period year ago, witnessing a growth of 3.25 per cent.

During the period under review, wholesales (including exports) grew 25 per cent to 190,283 units. Due to the improved industrial activity, growth in ecommerce sector and continued government spending on infrastructure, M&HCV trucks sale grew 23 per cent, ILCV trucks +27 per cent, SCV & Pick Ups +34 per cent and CV Passenger +8 per cent in the domestic market. Passenger vehicle was up 18 per cent with Nexon and Tiago continuing to deliver strong growths.

N Chandrasekaran, Chairman said, “The Tata Motors domestic business continued to deliver strong improvement in operational and financial performance by implementing the Turnaround 2.0 strategy effectively. We have improved our market shares whilst delivering robust improvement in profitability in both the Commercial Vehicles and Passenger Vehicles and generated positive Free Cash flows.”

During the same period, sales of Jaguar Land Rover dipped 13.2 per at 129,887 units with a fall of 11 per cent in revenue.

The EBIDTA margins slipped by 130 basis point to 9.9 per cent pulled down again by 270 basis points margin drop of JLR.

On standalone basis, company’s profit grew at Rs 109.14 crore for Q2 2018 against the loss of Rs 283.37 crore last year. During the July to September quarter, Tata Motors standalone sales grew by 24.4 per cent to 1.9 lakh units, however, Jaguar Land Rover registered a decline of 10 per cent during the Q2 at 1.37 lakh units.

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