Tata Motors Reports 4th Consecutive Quarter Of Losses
NDTV
Tata Motors reported a net loss of Rs 15.2 billion in the three months to December 31, it said in a statement, compared to a net profit of 29.1 billion rupees a year earlier.
Tata Motors, the owners of the Jaguar and Land Rover brands, reported a fourth consecutive quarterly loss today, weighed down by higher commodity prices and the global chip shortage.
Microchips are a key component in car manufacturing but automakers around the world have been hamstrung by limited supplies due to semiconductor production cuts during the pandemic.
The Mumbai-headquartered firm reported a net loss of Rs 15.2 billion ($203 million) in the three months to December 31, it said in a statement, compared to a net profit of 29.1 billion rupees a year earlier.
"The auto industry continued to witness rising demand in most segments even as the supply of semiconductors remained restricted resulting in adverse impact on production," Tata Motors' executive director Girish Wagh said in a statement.
