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Tata Motors shares drop over 6% on disappointing June quarter results

The stock tumbled 6.11 per cent to Rs 248 on BSE

Press Trust of India  |  New Delhi 

Tata Motors

Shares of Tata Motors dropped over 6 per cent  on Wednesday after the company reported a consolidated net loss of Rs 18.62 billion for the first quarter ended June 30.

The stock tumbled 6.11 per cent to Rs 248 on It was the worst hit among the 30-Sensex blue chips.

On NSE, shares of the company dropped 5.33 per cent to Rs 250.

Tata Motors group yesterday reported a consolidated net loss of Rs 18.62 billion for the first quarter ended June 30, dragged down by multiple challenges that its British arm JLR faced in major markets, including China, UK, Europe and the US.

The company had reported a net profit of Rs 31.99 billion in the April-June quarter of 2017-18.
 

Total revenue from operations, however, rose to Rs 67.08 billion as compared with Rs 59.81 billion in the year-ago period, Tata Motors said in a regulatory filing.

On standalone basis, the company reported a net profit of Rs 11.87 billion It had reported a net loss of Rs 4.63 billion in the first quarter last fiscal.

(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.)

First Published: Wed, August 01 2018. 14:14 IST
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