Tata Motors Ltd. reported a wider consolidated net loss of ₹314 crore for the second quarter ended September 30 compared with a net loss of ₹217 crore a year earlier. The auto major had reported a net loss of ₹8,438 crore in the quarter ended June.Consolidated revenue in the latest quarter declined 18% to ₹53,530 crore due to a decline in commercial vehicle and Jaguar Land Rover (JLR) sales volumes. “Despite concerns around risk of a second wave of infection in many countries and other geopolitical risks, we expect a gradual recovery of demand and supply in the coming months,” the company said in a regulatory filing.During the quarter, JLR returned to profit, which, however, remained below the year earlier, pre-COVID-19 levels.Retail sales at the luxury unit declined 11.9% year-on-year. China sales rose 3.7% year-on-year.
A letter from the Editor
Dear subscriber,Thank you!Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.Suresh Nambath