Wednesday, 1 December, 2021

Tata Motors Q2 net loss widens to Rs 44.16bn

Maruti Suzuki sales decline 24pc in Oct

NEW DELHI: Homegrown auto major Tata Motors Ltd (TML) on Monday reported a widening of consolidated net loss to Rs 4,415.54 crore for the second quarter ended September 30, due to higher expenses and lower sales of British arm JLR following semiconductor shortage.

The company had posted a consolidated net loss of Rs 307.26 crore in the same period last fiscal, Tata Motors said in a regulatory filing, report agencies.

Its consolidated revenue from operations stood at Rs 61,378.82 crore against Rs 53,530 crore in the year-ago quarter, it added.

The total expenses were Rs 65,712.83 crore, compared to Rs 54,982.77 crore a year ago.

British arm Jaguar Land Rover had a revenue of 3.9 billion pounds with a pre-tax loss of 302 million pounds in the second quarter, the company said.

JLR wholesales in the quarter were 64,032 units, down 12.8 per cent from the year-ago quarter, and retail sales, including the China joint venture, stood at 92,710 units, down 18.4 per cent, reflecting the semiconductor shortage and lower retailer inventories, the company added

On a standalone basis, TML posted a net loss of Rs 659.33 crore. It had a net loss of Rs 1,212.45 crore in the same quarter last fiscal.

Standalone revenue from operations was Rs 10,996.02 crore, compared to Rs 5,594.60 crore a year ago, the company said.

In Q2 FY22, wholesales, including exports, increased 56.3 per cent to 1,71,823 units, it added.

The country’s largest carmaker Maruti Suzuki India (MSI) on Monday reported a 24 per cent decline in sales at 1,38,335 units in October.

The company had sold 1,82,448 units in October last year, MSI said in a statement.

Domestic sales slipped 32 per cent to 1,17,013 units last month as against 1,72,862 units in September 2020, it added.

“While the shortage of electronic components continued to affect the production of vehicles during the month, the company took all possible measures to minimise the impact. Accordingly, the company sold more vehicles than the sales volume expected at the start of the month,” the auto major stated.

Sales of mini cars, comprising Alto and S-Presso, fell 23 per cent to 21,831 units as compared to 28,462 in the same month last year.

Similarly, sales of compact segment, including models such as Swift, Celerio, Ignis, Baleno and Dzire, slumped 49 per cent to 48,690 units as against 95,067 cars in October last year.

Sales of mid-sized sedan Ciaz declined 25 per cent to 1,069 units as compared with 1,422 units in October 2020.

Utility vehicle sales, including Vitara Brezza, S-Cross and Ertiga, however rose 7 per cent to 27,081 units as compared to 25,396vehicles in the year-ago month, MSI said.