Tata Motors shares decline nearly 6 per cent on March quarter loss

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Shares of Tata Motors on Tuesday fell by nearly 6 per cent after the company reported a consolidated net loss of Rs 9,863.73 crore in the fourth quarter ended March 2020. It tumbled 5.67 per cent to close at Rs 94.75 on the BSE. During the day, it tanked 8.41 per cent to Rs 92.

On the NSE, stock of the company plunged 5.87 per cent to close at Rs 94.60.

In traded volume terms, 108.45 lakh shares of the company were traded on the BSE and 21.54 crore shares on the NSE during the day.

Tata Motors on Monday reported a consolidated net loss of Rs 9,863.73 crore in the fourth quarter ended March 31, 2020, with the coronavirus-induced lockdown taking a toll on British arm Jaguar Land Rover (JLR) as well as its domestic business.

The company had posted a net profit of Rs 1,108.66 crore in the January-March period of the financial year 2018-19.

Its revenue from operations stood at Rs 62,492.96 crore in the March 2020 quarter, compared with Rs 86,422.33 crore in the corresponding period a year ago, Tata Motors said in a statement.

On a standalone basis, the company reported a net loss from continuing operations at Rs 4,871.05 crore in the fourth quarter ended March 31, 2020. It had reported a net profit of Rs 106.19 crore in the same period of the financial year 2018-19.

JLR reported a loss of 501 million pounds in the quarter under review, while the revenue was at GBP 5.4 billion.