Tata Motors Loss Narrows To Rs 4,451 Crore In June Quarter

Retail sales ofJaguar Land Rover in the first quarter of current financial year came in at 124,537 vehicles, up 68.1 per cent on an annual basis.

Tata Motors, the parent company of luxury car maker Jaguar Land Rover, said on Monday that its loss narrowed to Rs 4,451 crore in the first quarter ended June 2021 from a loss of Rs 8,438 crore in the same quarter last year. The company has reiterated that global chip shortages, uncertainty due to the spread of coronavirus variants and commodity inflation would impact business in the short term. "Demand remains strong for JLR and India PV, while CV demand is showing gradual improvement. In this dynamic business environment, we anticipate that semiconductor issues, commodity inflation and pandemic uncertainty will have an impact in the short term. We expect the performance to improve progressively from H2 as supply chain and pandemic situation improves," Tata Motors said in a stock exchange filing post market hours. Meanwhile, Tata Motors' revenue from operations rose 108 per cent to Rs 66,406 crore in the April-June period as Covid-19 pandemic, which hit sales across the luxury carmaker's business a year earlier, fuelled strong demand for personal vehicles. Retail sales of Jaguar Land Rover in the first quarter of current financial year came in at 124,537 vehicles, up 68.1 per cent on an annual basis.