Tata Motors posts biggest quarterly loss of Rs 26,961 crore on JLR woes

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Auto major Tata Motors Thursday reported its biggest ever quarterly net loss of Rs 26,960.8 crore for the third quarter ended December 31, hit by one-time asset impairment in its struggling British arm Jaguar Land Rover. This is the third consecutive quarterly loss reported by the company, which had registered a net profit of Rs 1,214.6 crore in the October-December quarter of 2017-18..

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    Auto major Tata Motors Thursday reported its biggest ever quarterly net loss of Rs 26,960.8 crore for the third quarter ended December 31, hit by one-time asset impairment in its struggling British arm Jaguar Land Rover. This is the third consecutive quarterly loss reported by the company, which had registered a net profit of Rs 1,214.6 crore in the October-December quarter of 2017-18.

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    Homegrown auto major Tata Motors on Thursday said its losses doubled to Rs 3,679.66 crore in the June quarter against a loss of Rs 1,862.57 crore last year. Analysts in an ETNOW poll had projected a hit of Rs 1,890 crore. The firm’s British luxury arm Jaguar Land Rover posted a pre-tax loss of 395 million pounds. The group’s overall revenue came in at Rs 60,830.16 crore, lower than Rs 65,956.78 crore in the same quarter last year. The sales number, however, was higher than ET NOW poll estimate of Rs 57,500 crore.




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    Auto major Tata Motors on Friday posted a consolidated loss of Rs 216.56 crore for the quarter ended September 30 against a loss of Rs 1,048.80 crore in the same period last year. Analysts in an ET Now poll had projected a loss of Rs 1,500 crore. Consolidated revenue of the company declined 9.15 per cent to Rs 64,763.39 crore during the quarter under review against Rs 71,292.79 crore last year.

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