Auto major Tata Motors reported a surprise consolidated net loss of Rs 7,605 crore for the quarter ended March 31, 2021 (Q4FY21), mainly on account of asset write downs in subsidiary Jaguar Land Rover (JLR). According to a consensus estimate of Bloomberg, Tata Motors was expected to report a net profit of Rs 2,774.10 crore and revenue of Rs 87,517.8 crore for the fourth quarter.
The luxury carmaker, which owns JLR, has incurred cash write downs on assets worth Rs 9,606.1 crore. This is apart from the restructuring costs of Rs 5,388.2 crore. In total, the exceptional loss in Q4 ...
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