Tata Motors remained in the red for the quarter ended March 31, hit by commodity inflation and the global semi-conductor shortage. However, consolidated losses narrowed during the period to Rs 1,032.84 crore compared with Rs 7,605.40 crore in the same period of the previous year.

Analysts were expecting the home-grown auto major to post a modest profit during the quarter as the supply situation had improved and the company resorted to price hikes during the period.

Tata Motors had recorded a loss of Rs 1,516.14 crore in the October-December quarter of the last fiscal year.

On a consolidated basis, revenues declined over the previous corresponding period to Rs 77,857.16 crore from Rs 87,772.31 crore. However, it was higher than Rs 71,406.77 crore recorded in the preceding three months.

Jaguar Land Rover (JLR) saw its revenues coming in lower at £4.77 billion against £6.54 billion in the same period of the previous year and a profit before tax of £9 million, down from £534 million in the year-ago period.

JLR said while volumes remained constrained due to the semiconductor supply, sales of the Range Rover were affected on account of new model changeover.

“The environment remains difficult in the light of the global chip shortage and other challenges. However, I’m encouraged by the continuing strong customer demand for our products, highlighted by a record order book,” Thierry Bolloré, CEO of JLR, said.

On a standalone basis, Tata Motors reported a profit after tax of Rs 413.35 crore against Rs 1,645.68 crore in the year ago period. Revenues came in at Rs 17,224.61 crore from Rs 13,286.92 crore in the same period.

L&T net up 10%
Larsen & Toubro on Thursday reported a 10 per cent growth in its consolidated net profit at Rs 3,620.69 crore for the quarter ended March, 2022. The company had posted a consolidated net profit of Rs 3,292.81 crore in the year-ago period, Larsen & Toubro (L&T) said.

The consolidated income during the quarter under review rose to Rs 53,366.26 crore from Rs 49,116.16 crore in the year-ago period. “The consolidated net profit after tax for the quarter ended March 31, 2022 at Rs 3,621 crore registered a growth of 10 per cent over the corresponding quarter of the previous year, in line with revenue growth,” the company said. Consolidated income increased to Rs 53,366.26 crore from Rs 49,116.16 crore in the year-ago period.