Tata Motors shares tank 6% after company reports shock Q4 loss

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NEW DELHI: Auto main ‘ shares plunged as a lot as 6 per cent on Wednesday a day after the auto main reported a consolidated web loss of Rs 7,585 crore for the quarter ended March 31, 2021.

However, that was higher than a consolidated web loss of Rs 9,864 crore it had reported for the corresponding interval a yr in the past.

The company’s complete earnings within the fourth quarter of the final monetary yr stood at Rs 89,319 crore. It had stood at Rs 63,057 crore within the year-ago interval.

Shares of the homegrown vehicle producer tanked 6 per cent to Rs 312.15. The Tata Motors inventory bled probably the most amongst the Nifty parts in morning offers.

The company’s British arm, Jaguar Land Rover reported a pre-tax loss of 952 million kilos for the quarter owing to the 1.5 billion kilos of remarkable prices, together with 952 million kilos of non-cash write-downs of prior investments and 534 million kilos of restructuring prices anticipated to be paid in FY22.

However, JLR clocked a 20.5 per cent enhance in income to six.5 billion kilos for the quarter, led by China and the brand new Defender mannequin. Retail gross sales within the fourth quarter have been 1,23,483 models, up 12.4 per cent on a year-on-year foundation.

For FY21, JLR income was at 19.7 billion kilos whereas retail gross sales have been at 439,588 models, down 13.6 per cent.

Shares of Tata Motors have delivered a return of greater than 310 per cent within the final one yr from its 52-week low of Rs 80.80 on May 20, 2020. The counter continues to be 12 per cent off from its current peak of Rs 357 hit in March 2021.

Tata Motors’ standalone complete earnings was at Rs 20,305.90 crore in Q4, as towards Rs 10,001.79 crore within the year-ago interval. During the quarter, the company’s wholesales, together with exports, grew 90.2 per cent to 1,95,859 models.

In the home market, Tata Motors stated the enterprise state of affairs is fluid with the second wave of the pandemic hitting India leading to a number of lockdowns. A sequential enchancment in total efficiency is predicted from the second quarter of FY22, it stated.

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