Tata Motors Reports Rs 1,049 Crore Q2 Loss
Auto maker Tata Motors reported a loss of Rs 1,048.80 crore for the July-September 2018, compared to a Rs 2,482.78 crore loss in the same period last year.
Its luxury car unit, Jaguar Land Rover posted a loss of 101 million pounds during the second quarter with a revenue of 5,635 million pounds. The free cash flow (automotive) for the period under review was negative at Rs 4,357 crore. JLR’s sales have been hurt by the market conditions in China, falling 13.2 percent to 1,29,887 units.
Tata Motors overall sales dropped 14.7 percent to 1,30,652. Its revenue was up by 3.2 percent to Rs 72,112.1 crore.
The automaker’s operational performance improved as its earnings before interest, tax, depreciation, and amortization (EBITDA) rose 16.4 percent to Rs 6,757.6 crore. The EBITDA margin narrowed to 9.4 percent from 11.5 percent in the same quarter of the financial last year.
Shares of Tata Motors Ltd closed 0.79 percent higher at Rs 178.65 apiece. The results were announced after market hours.
On the other hand, Gold prices rallied for the second consecutive session today, rising by Rs 30 to touch a nearly six-year high of Rs 32,650 per 10 gram amid increased festive demand.
Silver, however, continued to remain weak and fell by Rs 40 to Rs 39,200 per kg due to tepid demand by industrial units.
Domestic stocks overcame an early hiccup as benchmarks Sensex and Nifty gained nearly 2 percent in a session that was marked by high volatility.
The 30-share BSE index signed off October with a gain of 551 points, or 1.63 percent, at 34,442. The session was so choppy that the index saw a swing of as much as 876 points during the day.