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Tata Motors has announced its second quarter results and the homegrown carmaker has reported a consolidated net loss of ₹ 4,441 crore for the second quarter ending September (Q2FY22). In fact, the net loss for the company has widened by quite a margin as it had posted a net loss of ₹ 314 crore in the same quarter a year ago (Q2FY21), while on month-on-month (MoM) basis it's almost flat as it recorded ₹ 4,451 crore in the previous June quarter (Q1FY22).
Also Read: Tata Motors To Invest $2 Billion In EVs After Fundraise From TPG
The company's JLR sales went down in Q2.
Now Tata Motors' revenue from operations rose 14.7 per cent to ₹ 61,378 crore in the reporting period but the company has still been under pressure with respect to its Jaguar Land Rover (JLR) business. Retail sales of the JLR business in Q2 were down by 18 per cent at 92,700 units while the company also invested around 0.5 billion euros in the JLR business in the same quarter.
Also Read: India's Tata Motors Says EV Waiting Period At Six Months On Chip Shortage
Tata Motors' PV sales went up in Q2.
Now coming to its standalone business, Tata Motors Limited recorded a humongous 90.7 per cent jump in revenue at ₹ 18,439 crore while its retails sales were up by 77 per cent at 1.62 lakh units sold in the same period. The company's EBIDTA margin stood at 3.9 per cent up by 1.3 per cent. However, Tata Motors has said that sales were disrupted because of the semiconductor shortage issues which led to increase in the waiting period while even in the third quarter, sales are likely to remain subdued. Moreover, Tata Motors earlier announced that it will invest over $2 billion in its electric vehicle (EV) business over the next five years as it has raised funds from private equity firm TPG.
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