Tata Motors Q2FY22 Results: Net loss widens to Rs 4441 cr amid supply chain issue, commodity inflation
Auto Major Tata Motors net loss widens, while the revenue from operations surged during the July-September quarter of the financial year 2021-22 (Q2FY22), amid supply chain issue, low retail sale of Jaguar and Land Rover, and commodity inflation impacted the earnings during the quarter.
Auto Major Tata Motors net loss widens, while the revenue from operations surged during the July-September quarter of the financial year 2021-22 (Q2FY22), amid supply chain issue, low retail sale of Jaguar and Land Rover, and commodity inflation impacted the earnings during the quarter.
On a consolidated basis, Tata Motors reported a net loss of Rs 4441 crore in Q2FY22 as compared to Rs 314 crore in the same quarter a year-ago period, while the company’s revenue from operations grew by around 15 per cent to Rs 61,379 crore in Q2FY22 versus Rs 53,530 crore in Q2FY21.
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In the quarterly results statement, the company reported a decline in consolidated EBITDA margin down 210 basis points (bps) to 8.4 per cent, JLR’s margin too slipped by 380 bps to 7.3 per cent.
“India operations showed significant improvement as compared to Q2 a year ago, however the supply chain issues, and commodity inflation impacted the margins, Tata Motors pointed out the reasons for the widening of losses during Q2FY22.
The company’s passenger vehicle (PV) business continued its turnaround journey and strengthened its double-digit market share with decade-high quarterly sales. While EV business recorded nearly three-fold growth and recorded the highest monthly (1,078 units) and quarterly sales (2,704 units).
In its further outlook, the auto heavyweight mentioned, “Demand remains strong for JLR and India PV while CV demand is improving gradually. Semiconductor issues and commodity inflation will continue to impact the near term and we are doing our best to manage them.”
“The performance is expected to improve gradually starting in the second half as both the supply chain and the pandemic situation improves,” it added.
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04:46 PM IST