Tata Motors' Q4 net loss narrows to Rs 7,585 crore on improves sales

New Delhi: Home-grown auto major Tata Motors on Tuesday reported a narrowing of consolidated net loss at Rs 7,585 crore for the fourth quarter ended March 31, 2021, aided by improved sales.

The company had posted a consolidated net loss of Rs 9,864 crore in the January-March period of 2019-20, Tata Motors said in a BSE filing.

The auto major's total income in the fourth quarter stood at Rs 89,319 crore. It was at Rs 63,057 crore in the year-ago quarter.

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 FY'22.

This was on account of JLR's new global strategy to 'Reimagine' the future of modern luxury by design and deliver double-digit EBIT margins by fiscal 2025/26.

However, JLR clocked a 20.5 per cent increase in revenue at 6.5 billion pounds during 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 year-on-year. For FY21, JLR revenue was at 19.7 billion pounds while retail sales were at 439,588 units, down 13.6 per cent.

On a standalone basis, Tata Motors reported net profit from continuing operations at Rs 1,645.69 crore. It had reported loss from continuing operations at Rs 4,871.05 crore in the year-ago period. Tata Motors' standalone total income was at Rs 20,305.90 crore as against Rs 10,001.79 crore in the corresponding period a year ago. During the quarter, the company's wholesales, including exports, grew by 90.2 per cent to 1,95,859 units.