India News
Search Web Directory
News Home
Tata Motors consolidated loss at Rs 1,009 crore on weak JLR performance
Posted on 1st November 2018
Tata Motors on Wednesday reported a consolidated loss of Rs 1,009.5 crore for the three months ended September, primarily due to the loss emanating from the weak JLR performance. In Q1FY19, the company had reported a loss of Rs 1,862.6 crore.

Consolidated revenue rose 3% y-o-y to `72, 112 crore in the September quarter. Revenues from the sales of commercial vehicles were `15,056.9 crore, up 31% y-o-y.

The automaker’s consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) margin came in at 9.9%, down 130 basis points y-o-y, resulting in a fall in the consolidated EBITDA to `7,139.08 crore. The EBIT (earnings before interest and tax) for commercial vehicles was `1,193.5 crore, up 25%.

Jaguar Land Rover (JLR), the overseas subsidiary of the company which contributes 78% to the Tata Motors’ consolidated revenue, posted a loss of 101 million pound in the quarter. This resulted from a 14.7% year-on-year fall in volumes due to tough market conditions, Brexit uncertainty, taxes on diesel vehicles in Europe and the UK and weak demand in China and the US.

While in August JLR’s China sales were down by 38.1% y-o-y, September sales were lower by 46.2% y-o-y as trade tensions held back consumer demand and proposed duty cut and destocking with dealers in China.

PB Balaji, chief financial officer, said, “Given the challenging market conditions we are facing with JLR at the time, the demand situation is likely to remain muted for the second half of the year. To address the situation, our action plan is going to be to rejuvenate sales by launching a pipeline of 16 new products, cost reduction measures and increasing dealer profitability in China.”

Tata Motors’ net automotive debt for the quarter stood at Rs 41,151 crore, reflecting a cumulative negative free cash flow primarily at JLR which stood at (-)£0.6 billion. “We will be launching a programme to improve cash flows and profitability of £2.5 billion over the next 18 months wherein there will be capex calibration of £500 mn from the current £4.5 billion, along with £0.5 billion inventory and other capital reduction,” Balaji said.

However, Tata Motors standalone performance was good. Revenues rose 33% y-o-y to Rs 17,800 crore.

The company’s wholesale sales in Q2FY19 were 1,90,283 units, up 25%. In the domestic market, the company’s medium and high commercial vehicle segment grew 23%.

The intermediate light commercial vehicle segment grew 27% due to strong product portfolio and improved industrial activity. The passenger vehicle segment sales were up 18% y-o-y.

The stock of Tata Motors closed at `178.65 on the BSE, up 0.76% over Tuesday’s close. The stock has lost 59.4% since January this year.

Related Companies: Tata Motors   

Other Latest News
EC rejects Opposition's demands concerning EVMs
Posted on 22nd May 2019
New Delhi: The Election Commission of India (EC) has rejected the demands of the opposition regarding Voter Verifiable Paper Audit Trail (VVPAT) on Wednesday.

The issue to change the protocol for counting was discussed by the Chief Election Commissioner Sunil Arora at his meeting with election commissioners Ashok Lavasa and Sushil Chandra.

Big PSU bank merger on cards if Modi wins 2019 election; PNB may merge these banks with itself
Posted on 22nd May 2019
The government is planning to merge state-run Punjab National Bank with two other PSU banks — Oriental Bank of Commerce, Andhra Bank and Allahabad Bank after the new administration is in place following the 2019 Lok Sabha elections, Reuters reported citing unidentified sources. This is in a bid to keep 5-6 larger banks in the country, which the ruling Narendra Modi-government has been advocating for some time.

YES Bank begins provisioning for exposure to ADAG, Essel group firms
Posted on 22nd May 2019
YES Bank, which has exposures to Anil Ambani's Reliance group and Essel group companies, has started making provisions for loans given to both entities. The provisioning began after rating agencies downgraded debt instruments of both groups.

YES Bank has an exposure of Rs 13,000 crore to Reliance group entities and another Rs 3,300 crore to Essel group companies, according to analysts.

Reliance tops IOC in sales
Posted on 22nd May 2019
Reliance Industries has toppled state-owned Indian Oil Corporation (IOC) to become the country’s biggest company by revenue.

In 2018-19, Reliance has reported a turnover of Rs 6.23 lakh crore. In comparison, IOC posted a turnover of Rs 6.17 lakh crore for the fiscal, according to regulatory filings by the two companies.

Sensex rises over 150 points; Nifty tests 11,700
Posted on 22nd May 2019
The benchmark BSE Sensex jumped over 150 points in early trade on Wednesday, led by gains in oil and gas, banking and IT stocks, ahead of the general election results.

The 30-share index was trading 157.51 points, or 0.40%, higher at 39,127.31. In similar movement, the broader NSE Nifty rose 30.90 points, or 0.26%, to 11,740. In the previous session, the Sensex ended 382.87 points, or 0.97%, lower at 38,969.80, and the Nifty plunged 119.15 points, or 1.01%, to 11,709.10.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Tata Motors consolidated loss at Rs 1,009 crore on weak JLR performance
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Security Code*

Be the first person to write a business review for Tata Motors consolidated loss at Rs 1,009 crore on weak JLR performance

Most Read News

Slow income growth impending deposit growth: RBI study

Vodafone Idea to do away with all low Arpu subscribers by May end

Infosys to allocate up to 50 mn shares to incentivise staff

Sensex, Nifty start on a positive note amid firm global cues

ICICI-Videocon loan case: Chanda Kochhar, husband appear before ED again

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
About us
Link to us
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2019
    All Rights Reserved
Privacy Statement