In another disappointing quarterly result, Tata Motors has reported a consolidated net loss of Rs 1,516 crores, which is lower than the loss of Rs 2,906 crores for the same period last year & Rs 4,441 crores which was the loss for the quarter ended on September 2021.
Revenue from operations stood at Rs 72,229 crores, up 17% QoQ but down 4% YoY. The global chip shortage has affected the automobile manufacturers worst as the prices of raw materials began rising early on in 2021. However, the chips supply crunch is gradually resolving as unit sales are improving every quarter. This makes it the fourth consecutive quarter with a consolidated net loss.
Shares of the company ended 4.1% higher on the exchange to close at Rs 517.50 per share.
Highlight by Aman Agarwal.