Shares of Tata Motors rose 8.1% in early trading on Friday after the top domestic automaker announced it would cut its January net loss to March.
Tata Motors on Thursday announced a reduction in consolidated loss to Rs 1,032.84 crore for the March 2022 quarter from Rs 1,516.14 crore in December quarter and Rs 7,605.40 crore in the same quarter of the year. last.
The company's share price rose to a high of Rs 402.30 from Rs 372.10 at the previous close on the BSE.
Revenue for the quarter fell 11.5% year-on-year to Rs 78,439 crore from Rs 88,627.90 crore in the corresponding quarter last year, the company said in an ESB report.
The Ebitda margin for the quarter was 11.2%, down 320 basis points. The Tata group company announced that the EBIT margin fell 410 basis points to 3.2 percent.
According to Tata Motors, demand remains strong despite geopolitical and inflation concerns. The supply situation is gradually improving, while commodity inflation is expected to remain high, it added.
Across its segments, Jaguar Land Rover (JLR) reported sales of £4.8bn in the March quarter, up 1% quarter-on-quarter, reflecting higher wholesale sales partially offset by the impact of the end of the previous generation Range Rover and the new Range Rovers. they were still on the rise. The EBIT margin for the segment was 2%.
In commercial vehicles, the business continued to show a strong sequential recovery led by the MHCV segment, Tata Motors said. The company posted its highest quarterly revenue since the fourth quarter of 2019 and increased its market share in all segments.
In the case of passenger cars, the company achieved a turnaround in the fourth quarter of FY22 with the highest quarterly revenue of Rs 10,500 crore (up 62%), a positive EBIT of 1.2% and positive cash flows, Tata Motors said. Electric vehicle sales reached 9,100 units in the fourth quarter and PV market share improved to 13.4% (an increase of 440 basis points).
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