Tata Motors fell 1.07% to Rs 142.8 at 9:35 IST on the BSE after the company reported consolidated net loss of Rs 3698.34 crore in Q1 June 2019, higher than net loss of Rs 1902.37 crore in Q1 June 2018.
The result was announced after market hours yesterday, 25 July 2019.Meanwhile, the S&P BSE Sensex was up by 32.38 points or 0.09% to 37,796.21.
On the BSE, 8.75 lakh shares were traded in the counter so far compared with average daily volumes of 13.68 lakh shares in the past two weeks. The stock had hit a low of Rs 138.15 so far during the day, which is also 52-week low for the counter. The stock had hit a high of Rs 144.65 so far during the day. It hit a 52-week high of Rs 282 on 10 September 2018.
Tata Motors' consolidated total income fell 7.43% to Rs 62302.98 crore in Q1 June 2019 over Q1 June 2018. The company's consolidated earnings before interest tax depreciation and amortization (EBITDA) stood at 6.2% in Q1 June 2019. Tata Motors said that Q1 was impacted by demand slowdown, higher axle loads, liquidity stress, low freight availability for cargo operators.
Tata Motors group financial performance reflects the historical seasonality and continued challenging market conditions globally. The domestic auto industry has declined sharply and significantly. JLR performance reflects the impact of seasonality in the backdrop of weak markets.
Guenter Butschek, CEO and MD, Tata Motors, said the continued slow down across the auto industry due to weak consumer sentiments, liquidity stress and the impact of axle load effect particularly in medium/heavy duty, impacted overall demand.
Jaguar Land Rover, a fully owned subsidiary of Tata Motors, reported a pre-tax loss of 395 million pounds, compared to 264 million pounds loss in the same period a year ago, on quarterly revenues that declined 2.8% year-on-year to 5.1 billion pounds.
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Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence vehicles.
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