TATA Motors Q2 consolidated net loss widens to Rs 314.45 cr
Mumbai/UNI: TATA Motors has reported a consolidated net loss of Rs 314.45 crores for the quarter ended September 30, 2020 as against net loss of Rs. 216.56 crores for the quarter ended September 30, 2019.
Total income for the quarter under review fell by 18.06 pc to Rs.54163.22 crores as compared to Rs.66104.51 crores for the quarter ended September 30, 2019.
Guenter Butschek, CEO and MD, Tata Motors, said, "The auto industry continued its calibrated progress in Q2FY21 as the nationwide lockdown eased further.
"With health, safety and wellbeing of our employees and the supporting ecosystem at the forefront, we scaled up capacity while prudently addressing supply chain bottlenecks. In PV, we accelerated the momentum built in Q1FY21 and saw demand gradually emerge in select segments of CV. We remain hopeful for a full recovery in CV industry by end of this fiscal year aligned to the overall improvement in the economy. During the quarter, we delivered on our planned improvements in our operational and financial performance. We reiterate our commitment to make Tata Motors more agile by reducing costs, generating free cash flows, and providing the best in class customer experience," Guenter Butschek said.