INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Automaker Tata Motors on Tuesday sprang a surprise as it announced a consolidated loss of Rs 1,864 crore for the June quarter
It turned out to be the worst quarterly loss in nearly nine years, according to a Bloomberg data
Ralf Speth, Jaguar Land Rover Chief Executive, said: "We had a pre-tax loss in the first quarter, reflecting the impact of the announcement
of the duty reduction in China as well as planned dealer stock reduction in the quarter
We also continue to be impacted negatively by uncertainty over diesels in Europe along with Brexit and additional diesel taxes in UK."
Here
are some key points of Tata Motors Q1 earnings that you should take note of:Net lossThe consolidated loss figure was Rs 1,863.57 crore for
April-June as China duty reduction and Brexit uncertainty pushed its luxury unit JLR deep into the red
An earlier ET Now poll estimated a profit of Rs 1,500 crore
The auto major had reported Rs 3,199.93 crore profit in the year-ago quarter
A deferred tax credit of Rs 1,125.70 crore weighed.
TurnoverRevenues came in at Rs 65,956.78 crore for April-June on a consolidated basis
compared with Rs 58,766.07 crore last year.
JLRThe luxury arm of the Indian auto firm, Jaguar Land Rover, reported a loss of 210 million
pounds in the June quarter
Net debtClosing net debt soared to Rs 62,436 crore as of June 30 from Rs 39,977 crore as of March 31 due to negative free cash flow at both
Tata Motors and JLR, and continued investments
Net automotive debt rose to Rs 32,977 crore for the quarter compared with Rs 13,889 crore in January-March.
Free cash flowFree cash flow
(automotive) for the said quarter was negative Rs 18,109 crore, reflecting lower operating profits at JLR and unfavourable working capital.
