Q2 Results: Tata Motors Reports Net Loss Of INR 944.61 CroreThe company had posted a net loss of INR 4,441.57 crore in the year-ago period
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Tata Motors reported a consolidated net loss of INR 944.61 crore for the quarter ended September. The company had posted a net loss of INR 4,441.57 crore in the year-ago period.
Consolidated revenue from operations rose 29.7per cent to INR 79,611.3 crore in the quarter under review, as against INR 61,378.82 crore in the year-ago period.
"Demand continues to remain strong, however, will remain a key monitorable in wake of global uncertainties. Improving chip supply and cooling commodity prices will aid revenue and margins recovery and hence aim to deliver strong improvements in EBIT (earnings before interest and tax) and free cash flows in H2 FY23," Tata Motors stated in a filing to the BSE.
Earnings before interest, tax, depreciation and amortisation (EBITDA) margin, improved by 130 basis points (bps) YoY in Q2FY23 to 9.7 per cent.
Part of the USD 128 billion Tata group, Tata Motors Limited is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering an extensive range of integrated, smart and e-mobility solutions. With 'connecting aspirations' at the core of its brand promise, Tata Motors is India's market leader in commercial vehicles and amongst the top three in the passenger vehicles market.
