Tata Motors on Monday said Jaguar Land Rover (JLR) will temporarily suspend production at its UK manufacturing facilities over the course of next week.JLR's intention is to resume in the week of 20 April, subject to review of the rapidly-changing circumstances. JLR is operating in line with advice from the NHS and Public Health England to minimise the spread of the coronavirus, whilst implementing plans to safeguard its business continuity. The company will work towards an orderly return to production once conditions permit.
Currently, JLR's manufacturing plants in Brazil and India continue operating. The company's joint venture plant in China reopened in the week of 24 February, as life begins to get back to normal in the country.
Although the company's focus must be on its business and responsibilities to employees, JLR is doing whatever it can to support its communities through the current situation. The company's thoughts are with those directly affected by COVID-19 and with the healthcare professionals, whose role in combating this virus is appreciated by all.
Tata Motors' consolidated net profit surged 144.9% to Rs 1,738.93 crore on a 6.8% decline in net sales to Rs 71,051.42 crore in Q3 December 2019 over Q3 December 2018.
Tata Motors is engaged in manufacture of motor vehicles. It is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the company. The firm's segments include automotive operations and all other operations.
Shares of Tata Motors slumped 10% to Rs 69.70. The stock traded in range of Rs 69.70 and Rs 72.10 on Monday, 23 March 2020.
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