JLR parent Tata Motors posts quarterly loss
Reuters
Published Jul 26, 2021 06:40AM ET
BENGALURU (Reuters) - India's Tata Motors (NYSE:TTM) Ltd reported a first-quarter loss on Monday, as semiconductor shortages crimped the carmaker's ability to take advantage of the pandemic-fueled demand for personal vehicles.
The parent of Jaguar Land Rover (JLR) reported a consolidated net loss of 44.51 billion rupees ($598.04 million) for the quarter ended June 30, compared with a loss of 84.38 billion rupees a year earlier.
The luxury carmaker's business across several key markets was hammered by the pandemic last year.
($1 = 74.4260 Indian rupees)
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Written By: Reuters
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