Tata Motors posts Q3 loss of Rs 263 cr

Tata Motors Ltd has posted a net loss of Rs 263.26 crore for the third quarter ended December 31, 2008, as compared to net profit of Rs 499.05 crore for the corresponding quarter the previous fiscal. It is the company's first quarterly loss in seven years.

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The company's total income during the qurter under review declined 33.84 per cent to Rs 4,858.13 crore as against Rs 7343.52 crore in the year ago quarter, the company said in a filing with the Bombay Stock Exchange.

The filing said that the loss after tax includes a notional exchange loss of Rs 226.52 crore on account of revaluation of foreign currency borrowings, deposits and loans given. In the year-ago quarter, Tata Motors had made a notional gain of Rs 27.51 crore.

Tata Motors' net revenues for the nine-month period ended December 31, 2008 stood at Rs 18,765.91 crore, down 6.1% compared to Rs 19,981.30 crore in the corresponding period the previous year.

The company said that its post-tax profit for the nine months under review, of Rs 409.84 crore , includes a net notional exchange loss of Rs 632.55 crore on account of revaluation of foreign currency borrowings, deposits and loans given.

Against this, the PAT of Rs 1,492.65 crore in the corresponding nine-month period the previous fiscal included a notional exchange gain of Rs 264.25 crore.