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

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.