Tata Motors’ first quarter net loss has almost doubled compared to last year. The carmaker posted a net loss of Rs. 3,680 crore, up from Rs. 1,863 crore in the previous year.
Consolidated revenue was down 8% compared to last year to Rs. 60,830 crore. The revenue from its passenger and commercial vehicle businesses was reported to be Rs. 14,309 crore, down from Rs. 17,290 crore in the previous year.
Tata Motors’ passenger vehicle sales were down 29% to 42,034 units compared to the previous year. The CV business also reported a decline of 15% to 89,845 units.
Jaguar Land Rover’s revenue fell from Rs. 48,215 crore to Rs. 45,661 crore in Q1 FY2019. The carmaker’s global sales have dropped 11.6% to 1,28,615 units, compared to the previous year.
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