Tata Motors’ Q2 net loss widens to Rs 307 cr

Mumbai, Oct 27 : Tata Motors’ consolidated net loss for the July-September quarter widened to Rs 307.26 crore, from Rs 187.70 crore reported during the corresponding period of the last fiscal.

Revenue from operations of the company fell 18.41 per cent on a year-on-year basis to Rs 52,839.02 crore during the quarter under review, Tata Motors said in a regulatory filing.

Guenter Butschek, CEO and MD, Tata Motors, said: “The auto industry continued its calibrated progress in Q2FY21 as the nationwide lockdown eased further. With health, safety and wellbeing of our employees and the supporting ecosystem at the forefront, we scaled up capacity while prudently addressing supply chain bottlenecks.”

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“In PV, we accelerated the momentum built in Q1FY21 and saw demand gradually emerge in select segments of CV. We remain hopeful for a full recovery in CV industry by end of this fiscal year aligned to the overall improvement in the economy,” he said.

Disclaimer: This story is auto-generated from IANS service.

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