Tata Motors reports loss of Rs 1,048.80 crore on weak JLR sales in Q2

Reuters New Delhi, Delhi, India Oct 31, 2018, 04.19 PM(IST)

The company's revenue sank 4.3 per cent. In photo: Logo of Tata Motors. Photograph:( AFP )

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That was above the street estimate of a loss of Rs 2.40 billion, according to Refinitiv data.

Tata Motors Ltd on Wednesday reported a loss for the three months ended September, dented by weak Jaguar Land Rover sales and a one-off charge in respect to a subsidiary closure.

The automaker made a loss of Rs 10.49 billion ($141.92 million), compared with a profit of Rs 24.83 billion in the year-ago period, the company said.

That was above the street estimate of a loss of Rs 2.40 billion, according to Refinitiv data.

Total expenses during July-September rose 8.6 per cent, while revenue climbed to Rs 712.93 billion from 695.70 billion rupees a year earlier.