Tata Motors Q1 loss nearly doubles to Rs 3,680 cr on lower JLR sales

Tata Motors did far worse than expected in the June quarter, with a consolidated loss of Rs 3,680 crore.

Most brokerages had expected a loss of around Rs 2,000 crore. This is its fourth loss in five quarters, with sales volume down 21 per cent over the year-ago period.

A high cost base and negative operating leverage, coupled with rising levels of competitive intensity across markets, led to the disappointment. The volume decline was led by the China unit of Jaguar Land Rover (JLR, the Britain-based subsidiary of Tata Motors), where it fell 29 per cent. China is one of the biggest