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Tata Motors posts smaller-than-expected quarterly loss at Rs 216.6 crore

Consolidated revenue stood at Rs 65,432 crore versus Rs 77,981 crore a year ago

Reuters  |  New Delhi 

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

Jaguar Land Rover owner Tata Motors reported a smaller-than-expected loss in the second quarter on Friday, as sales of the luxury car picked up in China, amid slowing demand for passenger and commercial vehicles in the home market.

Net loss for the three months ended September 30 narrowed to 216.6 crore from Rs 1049 crore a year ago. Revenue fell 9% to Rs 65,432 crore.

Analysts on average expected the company to lose Rs 15,500 crore, according to Refinitiv data.

Mumbai-based Tata Motors reported retail sales of 128,953 JLR cars during the quarter, down 0.7% from a year ago.

First Published: Fri, October 25 2019. 17:13 IST
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