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Tata Motors shares jump over 8% after narrowing of net loss in Q4FY22

The stock jumped 8.30 per cent to Rs 403 on the BSE; at NSE, it zoomed 8.31 per cent to Rs 403.25 apiece

Topics
Tata Motors | share market | BSE NSE

Press Trust of India  |  New Delhi 

Tata Motors
Photo: Shutterstock

Shares of rallied over 8 per cent in early trade on Friday, a day after the company reported narrowing of consolidated net loss at Rs 992.05 crore in the fourth quarter ended March 2022.

The stock jumped 8.30 per cent to Rs 403 on the BSE.

At the NSE, it zoomed 8.31 per cent to Rs 403.25 apiece.

Home-grown auto major on Thursday reported narrowing of consolidated net loss at Rs 992.05 crore in the fourth quarter ended March 2022, amid challenges of semiconductor shortage and rising inflation.

The company had posted a consolidated net loss of Rs 7,585.34 crore in the same period last fiscal, said in a regulatory filing.

Its total consolidated revenue from operations stood at Rs 78,439.06 crore in the fourth quarter, as against Rs 88,627.90 crore in the year-ago period, it added.

On a standalone basis, the automaker reported a net profit of Rs 413.35 crore in the period under review, as 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 of the previous fiscal, Tata Motors said.

"The key highlight of this particular quarter is the sequential recovery that we saw across all businesses, despite the challenges that we had on semiconductors and inflation," Tata Motors Group CFO P B Balaji said in an earnings call.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, May 13 2022. 11:35 IST
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