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Tata Motors Net Loss of Rs. 9,894 Crore in March Quarte – Covid fallout

The major Automobile Sector Company Tata Motors has consolidated a net loss of Rs. 9,894 crores in the fourth-quarter that is January-March, the company said on Monday after the market hours in the exchange. In the quarter last year, it has reported a profit of Rs. 1,117 crores. The total revenue of the company from the operations fell down to 27.7% that is approx. to Rs. 62,500 crores during the quarter. Another sector of Automobile, the Jaguar Land Rover which is a segment of Tata Motors has consolidated a loss of 501 Million Pound at the profits before taxation. In the year 2019-20, Tata Motors stood at Rs. 12,071 crore against the loss of Rs. 28,826 crores in the previous year.

The sector attributed the losses due to the weak demands and the pandemic lockdowns. According to a news agency, the sales at JLR-the segment of Tata Motors that rakes in most of the company’s income were heavily impacted during the quarter because some of the keys markets as China and Europe went to the lockdown, therefore disrupting the supply chain.

“This impacted not only in Europe and China, but in India, the demand was adversely impacted by the economic slowdown, slow liquidity, and the stock corrections because of BSVI transition was also further affected by the continuous lockdowns. The volume decline particularly in MHCV and results negatively in profitability and the cash flows”, the company said.

The company also added that the performance of the company of this financial year 2020-21 in the first quarter is going to be “significantly weaker” due to the full implications of the lockdowns.

For the latest updates, stay tuned to The TLC News.com

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