 "Tata Motors shares drop over 6% on disappointing June quarter results")
Shares of Tata Motors dropped over 6 per cent on Wednesday after the company reported a consolidated net loss of Rs 18.62 billion for the first quarter ended June 30.
The stock tumbled 6.11 per cent to Rs 248 on BSE. It was the worst hit among the 30-Sensex blue chips.
On NSE, shares of the company dropped 5.33 per cent to Rs 250.
Tata Motors group yesterday reported a consolidated net loss of Rs 18.62 billion for the first quarter ended June 30, dragged down by multiple challenges that its British arm JLR faced in major markets, including China, UK, Europe and the US.
The company had reported a net profit of Rs 31.99 billion in the April-June quarter of 2017-18.
Total revenue from operations, however, rose to Rs 67.08 billion as compared with Rs 59.81 billion in the year-ago period, Tata Motors said in a regulatory filing.
On standalone basis, the company reported a net profit of Rs 11.87 billion It had reported a net loss of Rs 4.63 billion in the first quarter last fiscal.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app