JLR drives Tata Motors into 10 year-high loss of Rs 18.6 bn in June quarter

While India unit shines, import duty change in China hits JLR volumes

Tata Motors posted the worst bottom line performance in a decade during the April-June quarter. The company posted a loss of Rs 18.63 billion as sales at Jaguar Land Rover, its UK-based subsidiary sputtered, following a one-time regulatory issue in China, uncertainty around Brexit and poor demand for diesel vehicles in the UK and Europe.

The poor JLR show offsets the strong performance at the automaker’s India unit, which posted a net profit of Rs 11.88 billion. Weak JLR show meant results, including consolidated revenues, which came in at Rs 670 billion, were way below consensus estimates, which had pegged net