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Tata Motors shares dip 5 percent after reducing Q2 losses to Rs 944.6 cr
Tata Motors
Image Cr: Unsplash

Tata Motors shares dip 5 percent after reducing Q2 losses to Rs 944.6 cr

| @indiablooms | 10 Nov 2022, 03:00 pm

Mumbai/IBNS: The shares of Tata Motors fell five percent intraday on Thursday, a day after the enterprise revealed its Q2FY23 result.

On Wednesday, the firm reported a reduction in losses from Rs 4,441.57 crore to Rs 944.6 crore in its Sept. ended quarter compared to the same period previous year.

The Indian automaker's consolidated revenue increased 29.7 percent on a year-on-year (Y-oY) basis to Rs 79, 611.3 crore in Q2FY23 from Rs 61,278.82 crore reported in the year-ago period.

The mainstay of earnings for the global car manufacturer fell short of estimates presented by three analysts on account of rise in expenses, Reuters reported.

On a Y-oY basis, the Earning before interest, taxes, depreciation, and amortization (EBITDA) jumped by 53 percent, as per the Reuters report.

Brokerage firms and their evaluation of Tata Motors Q2 FY23 Results

As per major brokerage houses like Motiala Oswal, the automaker's EBITDA missed its estimates, reported Reuters.

Coming to immediate expectations, brokerage firm Sharekhan said it sees better operational performance as a result of ease in supply restrictions, as per a moneycontrol.com report.

The capital market firm CLSA in its analysis shared that the Jaguar Land Rover (JLR) EBITDA was more than the estimates, according to a CNBC -TV18 report.

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