More than $1 billion loss of Tata Motors in March quarter

More than $1 billion loss of Tata Motors in March quarter

More than $1 billion loss of Tata Motors in March quarter

On Tuesday, Tata motors shared a report of a combined net loss of more than $1 billion, nearly ₹7,605 crore in the March quarter due to the Covid-19 crisis. They also reported a net loss of ₹9,894 crores in the pandemic year as Covid-19 hit the business very badly.

The company also reported that they had made an independent profit of ₹1,646 crores in front of a loss of ₹4,871 crores last year. Whereas the total loss of Jaguar Land Rover (JLR) is nearly $2 billion in March quarter, 2021.

Guenter Butschek, CEO and MD, Tata Motors, said, "The auto industry was deeply impacted by COVID-19 in FY21 but witnessed a steady growth in vehicle demand as the nationwide lockdown eased, and pent-up demand came to fore supported by a steady recovery of the economy."

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