Tata Motors slips after poor monthly sales

Tata Motors lost 0.96% at Rs 180 at 14:48 IST on BSE after total sales declined 8% to 54,915 units in January 2019 over January 2018.

The announcement was made after market hours on Friday, 1 February 2019.

Meanwhile, the S&P BSE Sensex was up 109.04 points, or 0.3% to 36,578.47

On the BSE, 8.20 lakh shares were traded in the counter so far compared with average daily volumes of 10.61 lakh shares in the past two weeks. The stock had hit a high of Rs 183.60 and hit a low of Rs 178.20 so far during the day.

Tata Motors said that as muted consumer sentiments continued in January 2019, the company's commercial and passenger vehicles business sales in the domestic market witnessed a drop of 8% at 54,915 units as against 59,441 units sold over last year.

Tata Motors' Commercial Vehicles (CV) domestic sales declined by 6% in January 2019 to 37,089 units, compared to 39,386 units sold last year.

Low customer sentiments caused by non-availability of retail finance and liquidity crunch in the market have also impacted the Passenger Vehicle (PV) Business. The PV domestic sales witnessed a drop of 11%, at 17,826 units, as compared with 20,055 units sold last year.

The company's sales from exports (from CV and PV) in January 2019 was at 3,270 units, lower by 37% over last year, due to current liquidity crisis in Nepal, formation of new government in Bangladesh and political uncertainty in Sri Lanka.

Tata Motors reported consolidated net loss of Rs 1009.49 crore in Q2 September 2018 as compared with net profit of Rs 2501.67 crore in Q2 September 2017. Total income rose 2.61% to Rs 72729.30 crore in Q2 September 2018 over Q2 September 2017.

Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence vehicles.

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