Tata Motors slips 5% on Q2 earnings miss; brokerages divided on outlook

Improving chip supply and cooling commodity prices will aid revenue and margins recovery and hence aim to deliver strong improvements in EBIT and free cash flows in H2 FY23, the company said.

Shares of Tata Motors slipped 5 per cent to Rs 409.30 on the BSE in Thursday’s intra-day trade after the auto major reported higher-than-expected loss at a consolidated level for the quarter ended September (Q2FY23) when compared with the corresponding period last year due to semiconductor woes.

In Q2FY23, Tata Motors’s net loss narrowed to Rs 945 crore from Rs 4,442 crore in the year-ago quarter. The Street had estimated the company's net losses to shrink to Rs 655-755 crore. The company’s consolidated revenue grew 29.7 per cent year on year at Rs 79,611 crore. Earnings before interest, taxes,