Tata Motors lost 3.39% to Rs 255.20 at 10:13 IST on BSE after the company reported consolidated net loss of Rs 1862.57 crore in Q1 June 2018 as compared to net profit of Rs 3199.93 crore in Q1 June 2017.
The result was announced after market hours yesterday, 31 July 2018.Meanwhile, the S&P BSE Sensex was up 60.19 points, or 0.16% to 37,666.77
On the BSE, 9.98 lakh shares were traded in the counter so far compared with average daily volumes of 7.30 lakh shares in the past two weeks. The stock had hit a high of Rs 257.80 and hit a low of Rs 248 so far during the day. The stock hit a 52-week high of Rs 466.95 on 6 November 2017. The stock hit a 52-week low of Rs 247.55 on 18 July 2018.
Tata Motors' consolidated total income rose 8.09% to Rs 67306.06 crore in Q1 June 2018 over Q1 June 2017. Finance costs increased by Rs 266 crore to Rs 1375 crore in Q1 June 2018 over Q1 June 2017. The increase is primarily due to higher borrowings in JLR.
Closing net debt was Rs 62436 crore compared to Rs 39977 crore as at 31 March 2018, reflecting negative free cash flow at both Tata Motors and JLR with continued high investments.
Natarajan Chandrasekaran, Chairman, Tata Motors said that the company continued to gain market share while strongly improving profitability in both Commercial Vehicles and Passenger Vehicles. With regards to JLR, the company faced multiple challenges including temporary issues like China duty impact as well as the market issues like diesel concerns in UK and Europe.
Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence vehicles.
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