Tata Motors on Monday reported a consolidated net loss of Rs 1,451.05 crore for the third quarter ended , dragged down by the impact of semiconductor shortage on its British arm Jaguar Land Rover (JLR).
The company had posted a consolidated net profit of Rs 2,941.48 crore in the same period last fiscal . Its consolidated revenue from operations stood at Rs 72,229.29 crore in the third quarter as against Rs 75,653.79 crore in the year-ago quarter, it added. Its consolidated revenue from operations stood at Rs 72,229.29 crore in the third quarter as against Rs 75,653.79 crore in the year-ago quarter, it added.
JLR posted pre-tax loss of 9 million pounds in the quarter, while revenue was down 21.1 per cent at 4.7 billion pounds, Tata Motors said in a statement. JLR sales remain constrained by chip shortages with retail sales of 80,126 vehicles, down 37.6 per cent as compared to the third quarter of FY21, it added.
“Whilst semiconductor supplies have continued to constrain sales this quarter, we continue to see very strong demand for our products underlining the desirability of our vehicles,” JLR Chief Executive Officer Thierry Bollor said.
He further said the global order book is at record levels and has grown to 30,000 units for the New Range Rover before deliveries even start this quarter.
Tata Motors post Rs. 1451 Cr. loss for October
