JLR’s loss higher than expected
During the first quarter of the financial year 2021-22, the loss of Tata Motors has come down to Rs 4,450.92 crore, which was Rs 8,437.99 crore in the June 2020 quarter. The company’s loss figure during this period has been much higher than the estimate. The CNBC-TV18 poll had estimated the company’s loss to be Rs 1,379 crore in the first quarter. The company’s Jaguar Land Rover (JLR) segment had a net loss of £110 million in the first quarter. CNBC-TV18 poll estimated it to be 56 million pounds. The EBITDA margin of the segment stood at 9 per cent during the period under review. It was estimated at 10.3 percent in a poll by CNBC-TV18.
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Improvement is visible in domestic business
The domestic business of Tata Motors has shown an improvement in the first quarter of FY 2021-22 as compared to the first quarter of last year. However, due to the second wave of corona in India and supply-related problems, the growth of the first quarter of the financial year 2021-22 has seen a weakness compared to the fourth quarter of the financial year 2020-21. The company said that in the first quarter, the retail sales of JLR stood at 1,24,537 vehicles with a growth of 68.1 percent on a yearly basis. The company’s sales are showing signs of coming out of the epidemic. The company also said that the company’s business will see improvement from the second half of this year.
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