Tata Motors Net Loss Down To ₹ 7,605 Crore, Revenue Up 42%
Auto giant Tata Motors has recorded a consolidated net loss of ₹ 7,605 crore for the quarter ended March 31, 2021 (Q4FY21). It posted a loss of ₹ 9,894.2 crore in the corresponding period last year.
The company’s revenue from operations came in at ₹ 88,628 crore for the fourth quarter, up 42 per cent from the revenue of ₹ 62,492 crore clocked in the same quarter last year.
“The CV business consistently posted sequential quarter on quarter growth on back of developed customer sentiments, buoyancy in e-business, firming freight rates and higher infrastructure demand including road construction and mining. We have triumphantly developed our operational and financial performance by reducing cost,” said CEO and Managing Director of Tata Motors, Guenter Butschek.
Though on a stand alone basis, Tata Motors reported a net profit of ₹ 1,646 crore as against a loss of ₹ 4,871 crore in the year-ago period.