Tata Motors reports first-quarter loss

Reuters 

(Reuters) - India's Motors Ltd reported on Tuesday a loss for the three months through June, hurt by higher raw material costs.

It said it made a net loss of 19.02 billion rupees ($277 million), compared with a profit of 31.82 billion rupees in the same quarter a year ago.

Changes to the way JLR's pension payments are calculated had resulted in a one-time gain of 36.09 billion rupees last year.

Total expenses during April-June rose about 17 percent to 698.90 billion rupees.

($1 = 68.5825 Indian rupees)

(Reporting By Arnab Paul in Bengaluru; Editing by Susan Fenton)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 31 2018. 17:14 IST