Tata Motors have reported a loss of Rs. 7,605 crore for the quarter ending March 31, 2021. The company suffered cash loss on assets worth Rs 9,606 crore. This is excluding from the costs of restruction that is Rs. 5,338 crore. Altogether, the company suffered a loss of about Rs. 14,000 crore. The company recorded a revenue of up to 42 per cent.
Tata Motors reported a net profit of Rs. 1,646 crore in opposition with the loss of Rs. 4,871 crore in the last year. According to the Bloomberg’s estimate, the company was expected to record a profit of Rs 2,774.10 crore. Guenter Butschek, CEO and MD of Tata Motors said,”The CV business consistently posted sequential quarter on quarter growth on back of improved consumer sentiments, buoyancy in e-business, firming freight rates and higher infrastructure demand including road construction and mining. We have successfully improved our operational and financial performance by reducing cost”.
The EBIT margin of JLR increased to 7.5 per cent and 2.6 per cent during the March quarter for the year.
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