Jaguar Land Rover owner Tata Motors reported a quarterly loss that was bigger than expected and warned of rising inflationary costs
Shares of the company were trading 1.7% lower at 504.05 rupees, as of 0415 GMT. Before results landed on Monday, the stock had jumped more than 4% and settled at 517.75 rupees.
Tata Motors' consolidated net loss came in at 15.16 billion rupees for the quarter ended Dec. 31, compared to a profit of 29.06 billion rupees a year earlier, when an easing of pandemic-related restrictions led to a pick-up in sales. However, the recovery was short-lived as acute semiconductor shortages and supply chain disruptions delayed production, and Tata Motors slipped back to losses.
Tata Motors' earnings before interest, taxes, depreciation, and amortisation margin, a key measure of profitability, was 10.2% for the quarter, above estimates of 9.3%.
France Dernières Nouvelles, France Actualités
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