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Tata Motors reported the biggest quarterly loss among Indian corporates after it was hit by asset impairment in its UK subsidiary, Jaguar Land Rover (JLR) Automotive in the December quarter.
The non-cash loss of Rs 26,961 crore, the largest in the company’s history in absolute terms, was on account of uncertainties around Brexit, slowing sales in China, and technological disruptions facing JLR.
The company had posted a net profit of Rs 1,215 crore in the year-ago quarter. Revenues of the consolidated entity increased 5 per cent over the year-ago quarter.
The company’s American Depositary Receipts listed on the New York
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