Homegrown auto major Tata Motors Ltd (TML) on Monday reported a widening of consolidated net loss to Rs 4,415.54 crore for the second quarter ended September 30, due to higher expenses and lower sales of its British arm JLR following semiconductor shortage.
The company had posted a consolidated net loss of Rs 307.26 crore in the same period last fiscal, Tata Motors said in a regulatory filing.
Its consolidated revenue from operations stood at Rs 61,378.82 crore against Rs 53,530 crore in the year-ago quarter, it added.
The total expenses were Rs 65,712.83 crore, compared to Rs 54,982.77 crore a year ago.
Jaguar Land Rover (JLR) had a revenue of 3.9 billion pounds with a pre-tax loss of 302 million pounds in the second quarter, the company said.
JLR wholesales in the quarter were 64,032 units, down 12.8 per cent from the year-ago quarter, and retail sales, including the China joint venture, stood at 92,710 units, down 18.4 per cent, reflecting the semiconductor shortage and lower retailer inventories, it added.
The company said, “The performance is expected to improve gradually starting in H2, as both the supply chain and the pandemic situation improves”.
On the non-appointment of Managing Director after the retirement of Guenter Butschek earlier this year, Balaj said its a decision that the company’s board will decide at an appropriate time but at the moment, JLR, the CV business and PV business of Tata Motors have been running independently under respective leaders and coming together whenever needed.
