India’s Tata Motors reported a major quarterly loss as coronavirus lockdowns hit sales in domestic and international markets including Europe and China.

Mumbai-headquartered Tata Motors, the parent of British luxury marque Jaguar Land Rover (JLR), announced a consolidated net loss of 84.39bn rupees ($1.13bn) for the quarter ended June 30 against a loss of 36.98bn rupees a year earlier.

A survey of analysts by Bloomberg had predicted the quarterly loss to come in at $1.28bn.

Tata’s luxury car unit JLR faced sales challenges in its key markets China and Europe, worsened by the virus spread and supply chain disruptions.

Source: Aljazeera

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