Homegrown auto major Tata Motors on Thursday reported narrowing of consolidated net loss at Rs 992.05 crore in the fourth quarter ended March.
The company had posted a consolidated net loss of Rs 7,585.34 crore in the same period last financial year, Tata Motors said in a regulatory filing. Its total consolidated revenue from operations stood at Rs 78,439.06 crore in the fourth quarter against Rs 88,627.90 crore in the year-ago period.
On a standalone basis, the automaker reported a net profit of Rs 413.35 crore in the period under review against a net profit of Rs 1,645.68 crore in the fourth quarter of 2020-21.
Standalone total revenue from operations stood at Rs 17,338.27 crore in the fourth quarter as compared to Rs 13,480.42 crore in the same period last FY.
The company's British arm Jaguar Land Rover (JLR) posted revenue of £4.8 billion in the fourth quarter and retail sales of vehicles stood at 79,008 units. For FY22, JLR's revenue was £18.3 billion, down 7 per cent from the prior year. Retail sales were at 376,381 units, down 14 per cent compared to FY21, the company said.
“Full year performance (of JLR) in FY22 was significantly impacted by the constraint on production and sales resulting from the global chip shortage,” the company said.
JLR CEO Thierry Bolloré said the environment remains difficult in light of the global chip shortage and other challenges. "However, I'm encouraged by the continuing strong customer demand for our products, highlighted by a record order book," he said, adding the company is rapidly progressing its plans for a new generation of electric vehicles with its all-electric Jaguar strategy and battery electric vehicle first EMA platform for new Land Rover products.
On the commercial vehicles front, Tata Motors said domestic wholesales were at 110,000 units in the fourth quarter and for FY22 it was at 323,000 units.
"The Indian commercial vehicles sector, deeply impacted for two successive years, showed promising signs of growth in FY22 supported by a steady recovery in the economy, rising industrial activity and reopening of markets," Tata Motors Executive Director Girish Wagh said.
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