However, that was better than a consolidated net loss of Rs 9,864 crore it had reported for the corresponding period a year ago.
The company’s total income in the fourth quarter of the last financial year stood at Rs 89,319 crore. It had stood at Rs 63,057 crore in the year-ago period.
Shares of the homegrown automobile manufacturer tanked 6 per cent to Rs 312.15. The Tata Motors stock bled the most amongst the Nifty components in morning deals.
The company’s British arm, Jaguar Land Rover reported a pre-tax loss of 952 million pounds for the quarter owing to the 1.5 billion pounds of exceptional charges, including 952 million pounds of non-cash write-downs of prior investments and 534 million pounds of restructuring charges expected to be paid in FY22.
However, JLR clocked a 20.5 per cent increase in revenue to 6.5 billion pounds for the quarter, led by China and the new Defender model. Retail sales in the fourth quarter were 1,23,483 units, up 12.4 per cent on a year-on-year basis.
For FY21, JLR revenue was at 19.7 billion pounds while retail sales were at 439,588 units, down 13.6 per cent.
Shares of Tata Motors have delivered a return of more than 310 per cent in the last one year from its 52-week low of Rs 80.80 on May 20, 2020. The counter is still 12 per cent off from its recent peak of Rs 357 hit in March 2021.
Tata Motors’ standalone total income was at Rs 20,305.90 crore in Q4, as against Rs 10,001.79 crore in the year-ago period. During the quarter, the company’s wholesales, including exports, grew 90.2 per cent to 1,95,859 units.
In the domestic market, Tata Motors said the business scenario is fluid with the second wave of the pandemic hitting India resulting in multiple lockdowns. A sequential improvement in overall performance is expected from the second quarter of FY22, it said.
