INSUBCONTINENT EXCLUSIVE:
Tata Motors Q1: Revenue from operations rose 108% to Rs 66,406 crore in April-June period.Tata Motors, the parent company of luxury car
maker Jaguar Land Rover, said on Monday that its loss narrowed to Rs 4,451 crore in the first quarter ended June 2021 from a loss of Rs
8,438 crore in the same quarter last year
The company has reiterated that global chip shortages, uncertainty due to the spread of coronavirus variants and commodity inflation would
impact business in the short term."Demand remains strong for JLR and India PV, while CV demand is showing gradual improvement
In this dynamic business environment, we anticipate that semiconductor issues, commodity inflation and pandemic uncertainty will have an
We expect the performance to improve progressively from H2 as supply chain and pandemic situation improves," Tata Motors said in a stock
exchange filing post market hours.Meanwhile, Tata Motors' revenue from operations rose 108 per cent to Rs 66,406 crore in the April-June
period as Covid-19 pandemic, which hit sales across the luxury carmaker's business a year earlier, fuelled strong demand for personal
an annual basis."Sales continued to recover from the impact of the pandemic
the peak of the pandemic a year ago," Tata Motors said in an exchange filing.Tata Motors' domestic sales in June quarter jumped 340 per cent
to 95,200 units."The successful implementation of a comprehensive business agility plan enabled us to manage lockdowns effectively and also
deliver competitive growth as markets reopened
In the near term, we remain focused on fulfilling customer demands while driving all levers of the business to mitigate the unprecedented
commodity inflation," Girish Wagh, Executive Director at Tata Motors said in a statement.Tata Motors shares ended 0.86 per cent lower at Rs
293 ahead of earnings announcement.
