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Tata Motors slips after poor JLR sales

Tata Motors lost 0.85% at Rs 168 at 09:25 IST on BSE after the company reported fall in global wholesales in May 2019 over May 2018.

The announcement was made after market hours yesterday, 12 June 2019.

Meanwhile, the S&P BSE Sensex was down 70.15 points, or 0.18% to 39,686.66

On the BSE, 1.12 lakh shares were traded in the counter so far compared with average daily volumes of 12.27 lakh shares in the past two weeks. The stock had hit a high of Rs 168.40 and hit a low of Rs 166 so far during the day.

Tata Motors Group global wholesales, including Jaguar Land Rover (JLR), were at 82,374 units, lower by 23% in May 2019 over May 2018. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in May 2019 were at 31,490 units, lower by 23%, over May 2018. Global wholesales of all passenger vehicles in May 2019 were at 50,884 units, lower by 23%, compared to May 2018. Global wholesales for Jaguar Land Rover were 39,895 vehicles (JLR number for May 2019 includes CJLR volumes of 4,219 units). Jaguar wholesales for the month were 13,075 vehicles, while Land Rover wholesales for the month were 26,820 vehicles.

Tata Motors' consolidated net profit dropped 47.42% to Rs 1117.48 crore on 4.28% fall in total income to Rs 87718.69 crore in Q4 March 2019 over Q4 March 2018.

Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence vehicles.

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