Tata Motors Q1 results: Net loss of Rs. 8,443.00 crores for FY21
Tata Motors Q1 results: Initially the company was also known as Tata Engineering and Locomotive Company in India located in Mumbai. The company provides services in the automotive sector. However, the company is one of the subsidiaries of Tata Group. The company manufactures products like passenger cars, trucks, vans, buses, sports cars, and military vehicles.
Meanwhile, on Friday, July 31st, the automotive company reported its Q1 results for the financial year 2020-21. The company reported its consolidated net loss of Rs. 8,443.98 crores during the first quarter ended on June 30th, 2020. While the company also posted its net loss of Rs. 3,679.66 crores in the same quarter last financial year 2019. The company also reported its net loss of Rs. 9,863.75 crores in the previous quarter ended on March 31st, 2020.
Besides, the company’s total revenue from operations decreased to Rs. 31,983.10 crores in Q1FY21. While the company also posted its revenue of Rs. 61,467.00 crores in the same quarter last financial year. But the analyst expected the net loss of the company stood at Rs. 9,400.00 crores and revenue at Rs. 36,200.00 crores for Q1FY21.
On the other side, the Jaguar Land Rover (JLR) profits and sales were impacted by COVID-19 pandemic followed by plant shutdown across the world. However, the revenue from JLR reported at 2.90 billion pounds in Q1FY21. The company pre-tax loss for this quarter reported at 413.00 million pounds.
Commenting on the results, Guenter Butschek, CEO and MD, Tata Motors said, “The COVID-19 pandemic impacted the auto industry in this quarter. After restarting its operations in the plants located in different places. The company gradually increased its working capacity. While the company also provides health and wellbeing atmosphere to the employees as well as the larger ecosystem.”
However, the shares of Tata Motors Limited reported a bullish trend in the stock market on Friday, July 31st. The company gained 1.40 points with a 1.35% increase and reached 105.05 INR. While in BSE, the company gained 1.00 points with a 0.96% increase and reached 104.70 INR.
Stock Market July 31st:
On Friday, both Sensex and Nifty reported a bearish trend in the stock market. The Sensex is trading below 37,610 levels and Nifty is trading below 11,100 levels in the stock market. The Sensex lost 129.18 points with a 0.34% decrease and reached a 37,606.89 level. While Nifty lost 28.70 points with a 0.26% decrease and reached 11,073.45 level.
On the other side, the number of coronavirus cases in India reached 16,95,988 as of Saturday, August 1st, and deaths reached 36,511.
In the border market, the S&P BSE Smallcap index reported a bullish trend in the stock market on Friday. It gained 105.49 points with a 0.82% increase and reached a 13,021.76 level. The S&P BSE Midcap index gained 49.39 points with a 0.36% increase and reached a 13,759.11 level. While Nifty Bank lost 6.80 points with a 0.03% decrease and reached 21,640.05 level.
Top Gainers on July 31st: Grasim, Cipla, Sun Pharma, UPL, and JSW Steel are the top gainers in today’s stock market.
Top Losers on July 31st: Eicher Motors, Reliance Industries, HDFC Bank, Asian Paints, and HDFC are the top losers in today’s stock market.