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Tata Motors loss swells to Rs 8,438 crore in Q1, revenue crashes by half

"The Covid-19 pandemic deeply impacted the auto industry in Q1 FY21," said Guenter Butschek, CEO and Managing Director of Tata Motors

Brokerages slashed price targets on Tata Motors after the company reported biggest loss in India’s corporate history. The consensus 12-month price target for the stock is down to Rs 215 from Rs 252 earlier this month. Some brokerages have cut the tar
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Jaguar Land Rover's (JLR's) net revenue declined 44 per cent to 2.9 billion pounds in Q1 FY21.

ANI
Tata Motors said on Friday its consolidated net loss in the first quarter of current fiscal increased to Rs 8,438 crore from Rs 3,698 crore in the corresponding quarter of last year.

Total revenue from operations nearly halved to Rs 31,983 crore in Q1 FY21 from Rs 61,467 crore in Q1 FY20. Finance costs increased by Rs 165 crore to Rs 1,877 crore due to higher gross borrowings in the same period.

Tata Motors said the outlook remains uncertain for the year with Covid-19 infections continuing to rise and intermittent lockdowns in many countries. However, it expects a gradual recovery

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First Published: Jul 31 2020 | 7:50 PM IST

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