JLR to take a write off of 1.5 bn pounds in Q4 as part of a restructuring

This will be the second biggest hit for Tata Motors-owned firm since FY19

Jaguar Land Rover will take a one-time write off of 1.5 billion pounds (includes cash and non-cash) in the March quarter as part of a restructuring exercise under “Re-imagine” strategy, company’s management told investors on Friday. This will be the second biggest write-off by Tata Motors’ UK subsidiary as it seeks to change tack and turn profitable amid disruptions and heightening competition.  JLR had taken a write-off of 3.1 billion pounds in the December quarter of FY19 due to a slowdown in China and Brexit uncertainties.

The company attributed the “exceptional one-time” non-cash write down of 1 billion pounds to